Are you worried about how to protect your real estate deal from falling apart? Missing a key contingency or misunderstanding your contract terms could cost you time, money, and peace of mind. In this video, I’ll explain how real estate attorneys like me help buyers and sellers navigate, negotiate, and enforce contingencies to keep transactions on track. With the proper legal guidance, you can avoid costly mistakes and ensure your interests are fully protected. Watch the video now and take control of your real estate journey.
If you’re navigating a real estate transaction, you’ve probably heard the word “contingencies.” These are crucial terms in contracts that can protect you—or cost you big if not handled right. Let me explain why they matter and how I can help.
Contingencies are specific conditions that must be met for a real estate deal to go through. They protect both buyers and sellers by ensuring specific requirements are satisfied. For example, the three most common contingencies are financing, inspection, and appraisal. Financing contingencies ensure the buyer secures a loan. Inspection contingencies allow the buyer to assess the property for potential issues. Appraisal contingencies ensure the property meets a certain value, especially when a mortgage is involved. These terms keep deals fair and safe. But, if someone misses a deadline or doesn’t comply, your deal could fall apart.
In residential transactions, many contingencies are predefined in standard contracts. By the time I get involved, my job is to ensure these terms are followed and the deal stays on track. Commercial transactions, however, are more flexible. I often draft and negotiate custom contingencies to meet the parties’ specific needs. The flexibility in commercial deals can be an advantage, but it also means you need someone knowledgeable to navigate the details.
Sometimes, contingencies aren’t met. Perhaps the buyer can’t secure financing, or the inspection may reveal major issues. This is where I step in. If you’re the buyer, I help safeguard your earnest money and make sure your interests are protected. If you’re the seller, I evaluate the risks of extending deadlines or even terminating the deal. My role is to keep you informed, ensure compliance, and mitigate risks, no matter the situation.
Real estate contracts can be overwhelming; missing one detail could cost you thousands of dollars.
By working with a real estate attorney, you’ll have someone who understands the law, negotiates effectively on your behalf, and keeps your deal on track. Whether buying or selling, I can help you navigate contingencies and ensure a smooth, successful transaction. Reach out today at (847) 577-4476, or email us at Info@TheGoodLawGroup.com.
