What Are Contingencies and How Do They Affect Me?
Contingencies may not be something that many people think about in their daily lives but they can be game changers on the local real estate market.
Contingencies are essentially stipulations about things that must happen within a specified time frame in order to keep the contract alive. If something doesn’t happen that is specified in a contingency, it could void the contract, essentially causing a deal to fall through.
For home sellers, these contingencies can create considerable angst and worry leading up to the closing. After all, with them, a buyer has the potential opportunity to walk away from a contract, consequence free.
That’s why we advise our Northern New Jersey seller clients to carefully review offers with contingencies that cover an extended period of time. The Adler Home Team will work with you to determine what is an acceptable period of time for a contingency concerning a home inspection, appraisal or adequate financing.
Once we have established those timelines, we here at The Adler Home Team will keep track of them for you, ensuring that the buyer agent and the buyers are adhering to the contract as well as the contingency expirations.
Get Expert Bergen County Home Selling Help Today!
If you would like additional guidance as a home seller navigating the Bergen County area real estate market, make sure to contact us at The Adler Home Team. We have years of experience serving sellers just like you on such local housing markets as:
- Allendale, NJ
- Franklin Lakes, NJ
- Morristown, NJ
- Morris Township, NJ
- Mahwah, NJ
- Ramsey, NJ
- Ridgewood, NJ
- Upper Saddle River, NJ
- Wyckoff, NJ
And we'd love to help you as well!