What is a contingency in a Baltimore real estate contract?

A contingency clause in a Baltimore real estate contract is a specific condition that needs to be met before it is enforceable. If that condition is not met within the timeframe specified in the contract, the contract could potentially be broken and could possibly no longer be enforceable.

Some contingencies seen in Baltimore real estate contracts (note that these are not all of the possible contingencies that could potentially be in a contract, these are just a few potential examples):

  1. Financing Contingency. This would lay out the requirements for the buyer to secure a mortgage for the house.
  2. Inspections Contingency. This would lay out the inspections the buyer plans to have performed by a professional on the house.
  3. Appraisal Contingency. This can be a part of a financing contingency or a completely separate contingency.
  4. Home Sale Contingency. This would lay out whether the buyer would need to sell another property prior to closing on this house.

There may be other contingencies in a Baltimore real estate contract. The four listed above are just examples of a few contingencies that could potentially be in a specific contract.

Each Baltimore real estate contract may be different and could have different components to those contracts.

Please note that I am not an attorney and no information in this post should be taken as legal advice. I am not a lawyer and cannot provide legal advice.

**If you need legal advice, please contact an attorney.**