What are standard contingencies included in a sales contract?

Asked by T0wnp1ann3r, Westfield, NJ Thu Sep 13, 2012

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Mary Petti, Agent, Edison, NJ
Thu Sep 13, 2012
Standard contingencies written into the contract are obtaining a mortgage commitment by a certain date, and closing on or before the specified closing date.

Other "contingencies" are the 3 day attorney review period (which can be extended, ask your Realtor about the details), the inspection conntingency clause (again ask your Realtor to explain in more detail).

The "standard" contract used by Realtors in NJ has all these things described in detail. Your Realtor and/or attorney can fully explain them to you.

An attorney can, during attorney review, add additional contingencies which would have to be accepted by both parties.
1 vote
Great response Mary! How is your market in New Jersey?
Flag Mon Sep 24, 2012
Rashad Safwat…, Agent, South Brunswick, NJ
Thu Sep 13, 2012
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0 votes
Rashad Safwat…, Agent, South Brunswick, NJ
Thu Sep 13, 2012
Hi. Yes I can helpe to you Q? Call me my cell 732 803 7993......Rashid NASHID ORANGE KEY Reality!!!!
0 votes
Andrew Tisel…, Agent, Clifton, NJ
Thu Sep 13, 2012
mortgage and inspection
but any others could be added sale of your home(but this could be denied or they would expect a higher offer)
always best to speak with an attorney
0 votes
Depends on what state your in. Here in Massachusetts, some contigencies can include Septic inspection, financing, home inspection and appraisal. There could be others depending on the situation.
Flag Mon Sep 24, 2012
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