Answer: When you look to purchase a new home in the Shreveport Bossier City real estate market, anticipate potential problems. But protect against them so that if something does go wrong, you can cancel your real esate sales contract without penalty. This is what contingencies allow you to do.
They should be included in any offer to purchase you present to buy a home. In our local Shreveport Bossier City real estate market most offers include two standard contingencies; a financing contingency, which makes the sale dependent on your ability to obtain a loan commitment from a lender, and an inspection contingency, which allows you to have a professional inspect the property.
Without contingencies, a buyer could forfeit his deposit under certain circumstances if he backs out of a deal. The purchase contract also should include the seller's responsibilities, such as passing clear title, maintaining the property in its present condition until closing, and making any agreed upon repairs.
MAIN OFFICE® real estate agent professionals are experienced writing sales contracts for their clients and know when, and when not to include a contingency in your offer to purchase. Including too many contengencies or unnecessary ones, may keep you from getting your offer accepted. View our MAIN OFFICE® Buyers Commitment Pledge
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