| 1. Initial Deposit
Contingency |
| |
In 3 business days,
buyer needs to deposit money in escrow; also called
the cooling period |
| |
|
| 2. Disclosure Paper
Contingency |
| |
Buyer reserves the right to review
all disclosure papers within 7 days.
The reserve the right to back out of the deal, and,
entitled to get their deposit back if they are not
comfortable with the deal. |
| |
|
| 3. Appraisal Contingency |
| |
Within 17 days, if the the appraisal
value is lower than the sales price, the buyer reserves
the right to back out of the deal and entitled to
receive back their deposit. |
| |
|
| 4. Inspection Contingency |
| |
Within 17 days, buyer reserves the
right to get all inspections done, they also reserve
the right to back out of the deal. |
| |
|
| 5. Loan Contingency |
| |
Within 14 to 21 days, if the buyer
does not get loan approval, they reserve the right
to back out of the transaction
Link: FreeCreditReport.com |
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