- What is an inspection contingency?
- An inspection contingency is wording that should be included in your purchase contract. It indicates what happens if the home inspection finds problems that have not been disclosed by the seller.
- Often, the contingency will list the defects that the buyer would like to have repaired. It may suggest a lower purchase price if the defects are major. The inspection contingency may also allow the buyer to cancel the offer to buy the property based on the results of the home inspection.
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