{"id":5892,"date":"2021-04-02T09:00:00","date_gmt":"2021-04-02T13:00:00","guid":{"rendered":"http:\/\/migonline.com\/blog\/?p=5892"},"modified":"2021-04-29T09:22:21","modified_gmt":"2021-04-29T13:22:21","slug":"the-importance-of-home-loan-contingencies","status":"publish","type":"post","link":"https:\/\/migonline.com\/blog\/2021\/04\/02\/the-importance-of-home-loan-contingencies\/","title":{"rendered":"The Importance of Home Loan Contingencies"},"content":{"rendered":"

Negotiating for the home you want to buy can be stressful. That’s why it’s important to understand every facet of the process. One of the key points you will need to know about are home loan contingencies. Let’s talk about what we mean by that term, the most common types of contingencies, and the pros and cons contingencies pose to the buyers and sellers of the property.<\/p>\n

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What Is a Home Loan Contingency?<\/strong><\/p>\n

During the negotiation process, sellers may ask for a condition to be met before they are willing to move forward with the sale of their home. This is a contingency. They are common aspects of homebuying and selling.\u00a0 Buyers may agree to meet the contingency, they may counter-offer, or they may refuse the contingency altogether.<\/p>\n

Types of Contingencies<\/strong><\/p>\n

There are several contingencies that may occur during the homebuying negotiation. Some of the most common ones:<\/p>\n