We use cookies to improve security, personalize the user experience, enhance our marketing activities (including cooperating with our marketing partners) and for other business use.
Click "here" to read our Cookie Policy. By clicking "Accept" you agree to the use of cookies. Read less
Read more
Accept

Contingency Clause: Contract for Real Property

Category:
Contracts - Clauses
State:
Multi-State
Control #:
US-C-CL-695-1
Format:
Word; 
Rich Text
Instant download
Buy now

Description Real Estate Contingency Clause Example

A clause dictates the conditions under which the contract is legally enforceable and determines the terms of the contract. Contracts often contain boilerplate clauses or standard clauses found across most contracts. These standard clauses do not require a lot of negotiation. Included is a Sample Contingencies Clauses for a Contract for Real Property. Contingency clauses provide a way for one or both parties to back out of a real estate contract if certain specified conditions are not met. In other words, the sale is contingent upon these conditions.
A Contingency Clause: Contract for Real Property is a clause included in a contract for the purchase of real property that outlines conditions that must be met for the contract to become legally binding. This clause allows a buyer to withdraw from a contract if certain conditions are not met. There are several types of contingency clauses, including but not limited to financing, inspection, title, appraisal, and home sale contingencies. A financing contingency clause states that the sale of the property is contingent upon the buyer being approved for a loan with a certain amount and terms. An inspection contingency clause allows the buyer to conduct a professional inspection of the property and then decide whether to proceed with the purchase based on the results of the inspection. A title contingency clause allows the buyer to back out if there are any problems with the title of the property. An appraisal contingency clause allows the buyer to back out if the appraised value of the property is lower than the agreed upon purchase price. A home sale contingency clause allows the buyer to back out of the purchase if they are unable to sell their current home by a specified date.

A Contingency Clause: Contract for Real Property is a clause included in a contract for the purchase of real property that outlines conditions that must be met for the contract to become legally binding. This clause allows a buyer to withdraw from a contract if certain conditions are not met. There are several types of contingency clauses, including but not limited to financing, inspection, title, appraisal, and home sale contingencies. A financing contingency clause states that the sale of the property is contingent upon the buyer being approved for a loan with a certain amount and terms. An inspection contingency clause allows the buyer to conduct a professional inspection of the property and then decide whether to proceed with the purchase based on the results of the inspection. A title contingency clause allows the buyer to back out if there are any problems with the title of the property. An appraisal contingency clause allows the buyer to back out if the appraised value of the property is lower than the agreed upon purchase price. A home sale contingency clause allows the buyer to back out of the purchase if they are unable to sell their current home by a specified date.

Free preview Real Estate Contract Sample Contingency Clauses
  • Form preview
  • Form preview
  • Form preview
  • Form preview

Contingency Contract Examples Related forms

form-preview
Memorandum Brief in Opposition to Motion to Transfer Cause to Chancery Court

Memorandum Brief in Opposition to Motion to Transfer Cause to Chancery Court

View this form
form-preview
Rebuttal Memorandum Brief Supporting Motion to Transfer Cause to Chancery Court

Rebuttal Memorandum Brief Supporting Motion to Transfer Cause to Chancery Court

View this form
form-preview
Agreed Order on Appointment of Special Master

Agreed Order on Appointment of Special Master

View this form
form-preview
Motion to Accept the Report of Special Master For a Settlement Conference and Payment and Disbursement of Fees

Motion to Accept the Report of Special Master For a Settlement Conference and Payment and Disbursement of Fees

View this form
form-preview
Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities

Motion for Appointment of Special Master Receiver to Dissolve Partnership, Dispose of Assets and Settle all Affairs as to Assets and Liabilities

View this form

Viewed forms

form-preview
Declare None - Resolution Form - Corporate...

Declare None - Resolution Form - Corporate Resolutions

View this form
Notice of Need to File Proof of Claim Due ...

Notice of Need to File Proof of Claim Due to Recovery of Assets - B 204

View this form
form-preview
Prior Statement of Non-testifying Defendan...

Prior Statement of Non-testifying Defendant in Multi-Defendant Trial (revised 2016)

View this form
APPLICATION FOR LEAVE TO FILE A SECOND OR ...

APPLICATION FOR LEAVE TO FILE A SECOND OR SUCCESSIVE HABEAS CORPUS PETITION 28 U.S.C. Sec. 2244(b)

View this form
form-preview
Compensation for Change Orders and Builder...

Compensation for Change Orders and Builder Allowance Underages

View this form
form-preview
Notice of Filing of Final Report of Truste...

Notice of Filing of Final Report of Trustee, of Hearing on Applications for Compensation and of Hearing on Abandonment of Property by the Trustee - B

View this form
form-preview
General Form of Assignment as Collateral f...

General Form of Assignment as Collateral for Note

View this form
form-preview
Checklist of Standard and Illegal Hiring I...

Checklist of Standard and Illegal Hiring Interview Questions

View this form
form-preview
Project Cost Aggregate

Project Cost Aggregate

View this form
form-preview
Trademark Package with Step by Step Instru...

Trademark Package with Step by Step Instructions

View this form

How to fill out Contingency Clause: Contract For Real Property?

US Legal Forms is the most easy and affordable way to locate suitable legal templates. It’s the most extensive online library of business and personal legal documentation drafted and verified by lawyers. Here, you can find printable and fillable templates that comply with national and local laws - just like your Contingency Clause: Contract for Real Property.

Getting your template requires just a couple of simple steps. Users that already have an account with a valid subscription only need to log in to the web service and download the document on their device. Later, they can find it in their profile in the My Forms tab.

And here’s how you can get a properly drafted Contingency Clause: Contract for Real Property if you are using US Legal Forms for the first time:

  1. Look at the form description or preview the document to make certain you’ve found the one corresponding to your requirements, or find another one utilizing the search tab above.
  2. Click Buy now when you’re sure of its compatibility with all the requirements, and judge the subscription plan you prefer most.
  3. Create an account with our service, sign in, and pay for your subscription using PayPal or you credit card.
  4. Decide on the preferred file format for your Contingency Clause: Contract for Real Property and download it on your device with the appropriate button.

Once you save a template, you can reaccess it anytime - just find it in your profile, re-download it for printing and manual completion or upload it to an online editor to fill it out and sign more efficiently.

Benefit from US Legal Forms, your trustworthy assistant in obtaining the corresponding official paperwork. Try it out!

Form popularity

FAQ

As an appraisal contingency example, if you agree to buy a home for $200,000, but the appraised value comes in at only $190,000, the lender will not give you a loan for the property unless you cover the difference.

A contingency is a clause that buyers include when making an offer on a home that allows them to back out of buying the house if the terms of the clause aren't met. Without a contingency in place, buyers risk losing their earnest money deposit if they decide not to purchase the home after making an offer.

Contingencies can include details such as the time frame (for example, ?the buyer has 14 days to inspect the property?) and specific terms (such as, ?the buyer has 21 days to secure a 30-year conventional loan for 80% of the purchase price at an interest rate no higher than 4.5%?).

A contingency is a condition that needs to be met before an offer can proceed. In other words, it's kind of like a safety net. Therefore, an appraisal contingency means that if your home doesn't appraise for the amount you've agreed to pay, you can walk away from the deal with your deposit.

The Property must appraise at a value equal to or exceeding the purchase price or, at the option of Buyer, this contract may be terminated and all x monies shall be refunded to Buyer.

Some of the most common real estate contingencies include appraisal, mortgage, title and home inspection contingencies. Many home buyers also include a sale of prior home contingency, which allows them to withdraw an offer if they are unable to sell their current home within a specified timeframe.

An appraisal contingency clause is a condition built into a real estate contract that gives the buyer the right to walk away from the transaction if the appraised value of the property is lower than the agreed-upon purchase price.

Contingency Clause: Contract for Real Property Related Searches

  • contingency clause example
  • real estate contingency clause example
  • seller contingency clause example
  • buyer contingency clause example
  • contingency contract example
  • real estate contract clauses examples
  • contingency clause real estate
  • sample appraisal contingency clause

More info

The contingency clause gives a party to a contract the right to renegotiate or cancel the deal if specific circumstances turn out to be unsatisfactory. An appraisal contingency gives the buyer the right to back out if a professional property appraisal comes in lower than a specified minimum.A contingency contract in real estate is a conditional purchase agreement with stipulations that must be met to complete the sale. Because contingency clauses provide you with a way to back out of a contract, they can be great tools for real estate investors who make offers on properties. As mentioned, a contingency in a real estate contract means that certain things must be completed for the home purchase to continue. A contingency clause defines a condition or action that must be met or avoided before the real estate transaction can move forward. A contingency is a provision in a real estate contract that makes the contract null and void if a certain event were to occur. A contingency clause in a real estate contract is a condition that has to be met in order for the transaction to move forward. If it doesn't, the contract is void, and the seller can move on to a backup offer received while the sale was contingent. A mortgage contingency is a clause in real estate transactions that gives home buyers a timeframe to secure a mortgage loan for a home.

Trusted and secure by over 3 million people of the world’s leading companies

Contingency Clause: Contract for Real Property
Buy now