What does inspection contigency means?

Asked by Andrea, philadelphi Fri Apr 4, 2008

When they said that the inspection contigency has passed, does that means that the deal is on and the house had been sold

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Alan May, Agent, Evanston, IL
Fri Apr 4, 2008
It means the inspection contingency has been satisfied.

If there are any other contingencies (often the mortgage has a contingency) you have to wait for that commitment to be satisfied, and then you can probably consider the deal to be solid.
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