A real estate contract is one of the most important documents you will sign when purchasing a home. Ensuring you are protected in this contract is crucial. When making an offer on a home a buyer can choose to include contingency clauses.
A contingency clause is a certain set of legal terms in a real estate contract that protect the buyer from a variety of circumstances. It gives buyers a legal way to cancel a real estate contract without losing their deposit or threat of legal action from the seller.