23 – What are contingencies?
This is any type of clause in the contract that states that either the buyer or the seller can get out of the contract without losing earnest money if there is something not of their satisfaction.
An example would be an inspection contingency, especially with properties that need work done on them. Professionals would be brought in to check how much would be needed to fix everything up. If the price is more than what the buyer anticipated or the seller provided, then the buyer can get out of the contract without losing earnest money.
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Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,
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