Tom Saporito Realtor
Tom Saporito
703 930-6910703 930-6910

Home buyer’s contingencies

A contingency gives the buyer the right to back out of a purchase contract due to specific circumstances without any penalty. In any copntract, there may be a list of several conditions that need to be met in order to close the sale.

There are several common contingencies:

A home inspection contingency is listed in the contract when the closing of the sale depends on the result of various inspections performed.

A financing contingency is the most common contingency of all and appears when the sale is dependent on the buyer’s ability to receive an appropriate loan or other form of financing. The type loan and anticipated finance rate should be expressed within the contract for the protection of the buyer.

An insurance contingency is used so the contract will be dependent on the buyer’s ability to buy and receive an insurance commitment for their future home.

A title contingency is one of the most important contingencies that can be included. This allows the buyer to leave the contract if the seller of the property cannot produce a valid legal title.

Sale of home contingency is when the buyer of a property makes the sale dependent upon the sale of their previous property.


Contingencies are designed to provide you with the best possible agreement that fits you the best. So, do NOT be afraid to ask about possible contingencies!

Posted on April 21, 2016 at 10:47 am by Tom Saporito

Leave a Comment

  • Reviews


    Tom helped us sell our home of 30 years in Reston, VA. If not for Tom, my husband would not have had the support he needed. Tom's experience and expertise helped us move on every side of preparing and ...


    Tom is an absolute rock star and personifies why you need a realtor to help you buy or sell a home. He went out of his way to show me a variety of homes, and even after I'd seen so many I was feeling ...


    Working with Tom to buy a house was absolutely the right decision for us. We started looking for a house soon after we relocated from out-of-state, not familiar with either the area or the market. We ...

    Review Tom Saporito on