Lubavitch Real Estate Blog

The contingencies will be an important part of its bid. If not satisfied, you will not have an obligation to go ahead with the purchase after the offer is accepted.

Most of the buyers determine the Offer to Purchase to its ability to obtain a satisfactory mortgage financing. Without this condition, they could risk losing your security deposit or even, if not get a mortgage.

Other common contingencies are:

- To succeed in a home inspection within a certain period.
- Get the results of an inspection for the presence of termites.
- Obtain test results of wells and septic satisfactory.
- Ask for evidence that the property meets code requirements and safety planning.
- Get an appraisal with a value not less than the price offered.
- Obtain a satisfactory review by a lawyer of their Offer to Purchase (if the offer was not prepared by an attorney).

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