Attorneys in Nassau & Suffolk County

mortgage contingencies

How Can a Mortgage Contingency Protect You?

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When negotiating a real estate contract, it is common for both sides to place measures known as “contingencies” into the contract, which are meant to protect against certain foreseeable problems. One common contingency is known as the mortgage contingency, which is meant to protect the seller from issues that might arise due to problems with the sale’s financing. But what exactly is a mortgage contingency, and how can it potentially protect you?

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