A contingent offer in real estate is a bid or offer that is proposed with specific conditions which must be met for the sale to proceed. These conditions, called contingencies, protect the buyer and ensure their interests are safeguarded before finalizing the purchase.
An Inspection Addendum or Clause is an agreement within a real estate contract that allows a buyer to inspect the property before finalizing the sale, enabling negotiations or cancellation based on inspection results.
A clause in a real estate sales contract that allows the buyer to have the property inspected for termite infestation, often requiring the seller to treat the property or providing the buyer with the option to cancel the contract.
