What is a contingency in a home purchase contract?

A contingency is a condition written into a home purchase contract that must be satisfied for the sale to move forward, such as the buyer securing financing, the home passing inspection, or an appraisal coming in at or above the purchase price. If a contingency isn't met and isn't waived, either party may have the right to cancel the contract, often with earnest money protected depending on which contingency failed. Brian Beatty makes sure every contingency deadline is tracked closely so a deal never falls apart over a missed date rather than an actual problem.