Home Sale Contingency

Updated 8 months ago ​by Aneesah Emeka

What it is: 
A clause in an offer contract that makes the purchase of a property dependent on the successful sale of another piece of real estate. 

What it's good for: 
It's helpful if you need to sell their current home in order to finance a new one. If you don't sell your current place, a Home Sale Contingency will let you back out of a purchase agreement.