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Question
World History
Posted 4 months ago
Most purchase agreements are contingent on which two items
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Answer from Sia
Posted 4 months ago
Answer
Most purchase agreements are contingent on financing and inspection.
Key Concept
Contingencies in Purchase Agreements
Explanation
In the context of real estate, a purchase agreement often includes contingencies to protect the buyer and ensure that certain conditions are met before the sale is finalized. The financing contingency ensures that the buyer can secure the necessary funds or a mortgage to purchase the property. The inspection contingency allows the buyer to have the property professionally inspected for any defects or issues that may need to be addressed before the sale can proceed. These contingencies are crucial as they provide a legal way for the buyer to back out of the agreement without penalty if the conditions are not met.

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