A home sale contingency is an offer on a home that has been made and the seller has accepted it, but the finalized sale is contingent upon certain criteria that has to be met. If a buyer or seller is unable to satisfy a contingency, then the offer on a home may become void. When it comes to real estate contracts for buying or selling a home, contingencies hold the key to either big savings or large potential losses. Here are is a list of common home sale contingencies that you likely run into if you're a buyer or seller.

Common Contingencies

• Obtaining financing

• Well and septic inspection

• Home inspection

• The sale of buyers home

• Survey of the property boundaries Repairs to be made by the seller A primary offer

• Energy inspection or improvements Code compliance inspection

• Joint driveway or well agreement Radon test

• Buyer pre-closing walk-thru inspection Urea formaldehyde foam disclosure Perk test

• Repairs or improvements by buyer before closing

• Safe water test

• Successful closing of another real estate transaction

• Zoning changes