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How do contingencies operate in real estate contracts?

Buying a home is an exciting time in a person's life, whether the person is buying their first home or whether the person is upsizing or downsizing from an existing home. Part of the homebuying process includes the execution of a real estate contract. However, such contracts may have contingencies that need to be met before the sale can be completed. The following is a basic overview of contingencies in real estate contracts.

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