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What Is an Inspection Contingency?
An inspection contingency is one of the most important protections a buyer can have in a real estate contract. Here is what it does, how it works, and what happens when you use it.
Video coming soon
The key takeaways are below in the meantime.
Written by Bri Bond-Erwin
Key Takeaways
- An inspection contingency gives buyers the contractual right to have the home professionally inspected after their offer is accepted
- If the inspection reveals serious issues, the contingency typically allows the buyer to negotiate repairs, request credits, or exit the contract
- The contingency has a defined deadline. Buyers must complete their inspection and raise concerns within that window
- Waiving an inspection contingency removes your contractual protection if significant issues are discovered after closing
- Even in competitive markets, skipping an inspection entirely and waiving the contingency are different decisions, and both carry real risk
- Your agent can help you understand how to use the inspection contingency effectively given the specific market conditions
Transcript will be available when the video is recorded.
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