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  2. Common real estate contingencies and what they mean - AOL

    www.aol.com/finance/common-real-estate...

    A contingency clause in a real estate purchase agreement specifies an action or requirement that must be met, within a particular time frame, for the contract to become legally binding. Both the ...

  3. When is it too late to back out of buying a house?

    www.aol.com/finance/back-house-offer-once...

    A clause in a purchase agreement that gives buyers and sellers the right to cancel a contract if certain terms aren’t met. For example, a mortgage contingency requires the buyer to secure a ...

  4. 72-hour clause - Wikipedia

    en.wikipedia.org/wiki/72-hour_clause

    A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...

  5. Real estate contract - Wikipedia

    en.wikipedia.org/wiki/Real_estate_contract

    Mortgage contingency – Performance of the contract (purchase of the real estate) is contingent upon or subject to the buyer getting a mortgage loan for the purchase. Usually such a contingency calls for a buyer to apply for a loan within a certain period of time after the contract is signed. Since most people who buy a house require financing ...

  6. Rule against perpetuities - Wikipedia

    en.wikipedia.org/wiki/Rule_against_perpetuities

    The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.

  7. What Is an Appraisal Contingency? - AOL

    www.aol.com/appraisal-contingency-184818653.html

    If you are buying a home, there are two things you should never, under any conditions, waive. The first is home inspection, along with your right to unilaterally withdraw your offer based on the ...