Question removed

Asked by Justina Franklin, Kalamazoo, MI Tue Feb 26, 2008

This question was removed by its author.


smith3gary, Agent, White Lake, MI
Tue Feb 26, 2008
Justina, Michelle is correct. Contingencies are used to further define the terms in a contract. Even though you may be using the banks purchase agreement you can still add contingencies to protect yourself. Most will contain a clause stating if the contingency is not satisfied you can get your earnest money deposit back and walk away from the transaction.
Web Reference:
0 votes
Michelle Gor…, Agent, East Grand Rapids, MI
Tue Feb 26, 2008
GRAR (Grand Rapids Association of Realtors) approved forms have several written in, such as; inspections of home that can include plumbing, electric , roof, radon, termite, septic and well (if applicable) basically general over all condition of the home. There is a place on this contract that you can mark if you want the sale to be contingent on the sale of your home. There is a written paragraph in there about financing as well. However, if you are dealing with a short sale or a bank owned home………….they will have their own contract for you to READ and sign, and the rules may and will change. If not, just about anything can be written into a contract as long at it is legal and ethical.
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more