A condition limiting the location of a value.
A close relationship, especially of a causal nature, between two events, one of which regularly follows the other.
A percentage taken of the total instead of payment upfront
A future event or circumstance that is possible but cannot be predicted with certainty.
A contingency is a condition which has to be met before a contract is legal and binding.
A provision in a contract that alters the terms of the original agreement should a specified event occur.
a future event or circumstance regarded as likely to occur or a influencing present action.29
A stated event which must occur before a contract is binding. For example, the sale of a house is often contingent upon the buyer obtaining financing.
Any requirement in a contract which must be completed before the contract can be considered ready for performance; most commonly refers to a mortgage contingency.
A contingency is a clause in the purchase contract that describes certain conditions that must be met before the contract is binding. The buyer or the seller may include contingencies in the contract for any legal purpose, but both parties must accept the contingencies.
a condition that must be fulfilled before the parties are legally bound to complete the purchase agreement.
Contract Contract of Sale
Provision within a contract that renders an agreement incomplete until a designated event such as a survey or inspection occurs.
Action conditioned upon a certain event. Acceptance of the terms of a contract based on something else happening or certain conditions being met.
An existing condition involving uncertainty as to possible gain or loss that will be resolved by future events. Estimates, such as the useful life of an asset, are not contingencies. Eventual expiration of the asset's utility is not uncertain.
Conditioned events that must happen in order for the buyer and seller to conclude a sales transaction
Conditions that must be satisfied before the buyer can close the purchase of a property, contingencies are typically outlined in the purchase contract between buyer and seller.
Specific conditions in a purchase agreement that must be met prior to closing. The contract may be terminated if contingencies aren’t met. Typical contingencies include financing and inspection.
The legally binding conditions put on an offer to buy a property.
In a real estate contract, another word for "IF." Such as, "I will purchase your house contingent upon (if) obtaining a specific type of loan."
A clause within an Offer to Purchase or within the Contract for Sale that requires a certain condition be met before proceeding to closing.
A clause within a purchase agreement that has to be met before the contract can be exercised.
A clause or phrase that indicates a term or condition which must be met prior to further action(s). A contingency is a "subject to..." clause.
A condition or situation, the ultimate outcome of which, gain or loss, will be confirmed only on the occurrence, or non-occurrence, of one or more uncertain future events.
A possible event based on the happening of an uncertain future event.
A sudden and unexpected event which disrupts normal operation of the grid. Examples include the loss of a generator, the loss of one or two poles on the HVDC link, the loss of an AC line, the loss of a large amount of load, or the loss of other equipment on the grid.
The possibility of coming to pass; an event which may occur.
A clause in a purchase and sales agreement that requires the completion of a certain act or the occurrence of a certain event.
An action or condition that is required to occur before a contract is binding.
A happening or event that is necessary before a contract becomes binding.
A condition put on an offer to buy a home; such a prospective buyer making an offer contingent on the sale of his/her present home
Any requirement in contract, which must be completed before the contract is ready for performance, most likely refers to either a home inspection or financial contingency.
A condition placed in a purchase & sale agreement specifying certain acts that must be completed before the sale can be finalized. Most common contingencies include Home Inspection & Resolution, property appraising for at least the sale price, sale of buyer's other property etc.
A provision in a contract that requires that a certain act be done or a certain event occur before the contract becomes binging. Eg. (When it is necessary for a person to sell their existing home before they can close on a new home.)
A condition that must be met before a contract is legally binding. For example, home purchasers often include a contingency that specifies that the contract is voidable if the purchaser cannot obtain financing per the terms of the contract.
A condition that must be met for a contract or a commitment to remain binding.
A condition that must be met before a property sale can be completed, such as a home inspection or mortgage approval.
A condition that must be satisfied before a contract is binding. An example is a sales agreement, contingent upon the buyer obtaining financing.
A specified condition that must be met before a contract is legally binding. The two most common contingencies in home purchasing are that 1) the house must pass the home inspection, and 2) the borrower must get the loan.
A condition that must be met before a contract is legally binding upon the parties.
It is a condition that must be met before a contract becomes binding. (For example, a sales agreement can be contingent on the sale of the buyer's current home.)
A condition that must be met before a contract is legally binding. For example, home purchasers often include a home inspection contingency; the sales contract is not binding unless and until the purchaser has the home inspected.
A condition put on an offer to buy a home; such as the prospective buyer making an offer contingent on his or her sale of a present home.
A condition that must be met before a contract is legally binding (financing, inspections, etc.).
A condition that must be met before a real estate transaction can be completed. Common contingencies included in purchase agreements include: buyer's ability to obtain financing; a satisfactory home inspection; successful sale of the buyer's previous home; successful purchase of the seller's next home, etc.
A condition that must be met before a contract is legally binding. For example, home purchasers often include a contingency that specifies that the contract is not binding until the purchaser obtains a satisfactory home inspection report from a qualified home inspector.
A condition that may affect whether a contract is binding. For example, residential purchase and sale agreements often include mortgage commitment or home inspection contingency provisions.
Contract Contract for deed
A provision that makes the occurrence of one event dependent upon the completion of another. For example, the purchase of a home may be contingent on the seller repairing structural damages.
a condition that must be met as stated in the offer to purchase before a contract becomes legally binding.
The dependence upon a stated event that must occur before a contract is binding.
A condition that must be satisfied before a contract becomes a legally binding agreement.
A clause in a contract stating that the buyer or seller must meet a given condition before the purchase can be completed.
A stated fact that must occur before a contract is binding. Example: Contractors inspection must be done and buyers must be satisfied with the condition of the property to remove that contingency.
The insertion of language into a contract of sale which requires that the stated event take place before the contract becomes binding. For example, a sales contract may be contingent on a home inspection. Until that home inspection is complete and both the buyer and seller have come to terms on it, the contract is not binding.
A condition upon which a valid contract is dependent. For example; the sale of a house is contingent upon the buyer obtaining adequate financing.
Commonly, the dependence upon a stated event which ust occur before a contract is binding. For example: the sale of a house, contingent upon the buyer obtaining financing.
A condition that must be met before a sales contract is legally binding. For example, when buying a home, the contract may not be binding until a satisfactory home inspection report is obtained from a qualified home inspector.
A condition, such as a home inspection report, that must be met before a contract becomes legally binding.
A condition in the contract that has to be satisfied before a party or parties to a contract may proceed.
A condition that must be met before a contract is legally binding. (See also Mortgage Contingency, or Property Inspection Contingency.)
Before a contract is legally binding, it must meet any contingencies stipulated by either party. For instance, home purchasers often include a contingency that specifies that the contract is not binding until the purchaser obtains an appraisal and/or a satisfactory inspection report from an qualified appraiser or home inspector, respected. You can find a greater explanation and a list of sample contingencies in our guide to making an offer on a house.
A provision placed in contract which requires the completion of a certain act or the happening of a particular event before a contract is binding.
any condition or circumstance, including approvals or situations, that must be satisfied before the purchaser is obligated to purchase the contract property
Contingency. See Special Condition.
Provision in a contract that makes the parties' rights and obligations depend on the occurrence, or nonoccurrence, of a particular event.
A condition which must be met before a contract is binding. For example, a requirement that an existing lien on the property must be cleared by a certain date.
A clause in a agreement, contract, escrow, etc. that only makes it binding upon the occurrence of a stated event. For example, the sale of the business is contingent upon the buyer obtaining financing.
A provision in a contract that sets forth one or more conditions that must be met prior to the closing. If the contingency is not met, usually the party who is benefiting from the contingency can terminate the contract. Some common contingencies include financing and inspection.
A provision in a contract that requires the completion of a certain act or the happening of a particular event before that contract is binding.
Something that must occur before something else happens. Often used in real estate sales when a buyer must sell a current home before purchasing a new one. Or, when a buyer makes an offer the requires a complete home inspection before it becomes official.
A contract that specifies and clarifies expectations. It defines the expected behavior (work or effort) and the reinforcement (payoff). Contingencies are generally stated in an if/then or when/then format.
A condition that must be met before a contract is binding. For example, the sale of a house might be contingent upon the seller paying for certain repairs.
Contingencies are conditions usually set forth in the contract that must be met before the buyer will close the purchase of the property. E.G. if the sales contract stated the buyer has 21 days to check all necessary repairs needed to the property and asks the seller to perform them. If the buyer is not pleased with the repairs or if they were not performed the buyer is then allowed to back out of the contract. However, after the 21 days are up the buyer can not back out due to the condition of the property.
Contingencies are conditions contained in almost all home purchase offers. The seller or buyer must meet or waive all contingencies before the deal can be closed. These conditions relate to such factors as the buyer's review and approval of property inspections or the buyer's ability to get the mortgage financing that is specified in the contract. Sellers may include contingencies as well, such as making the sale of their house contingent upon their successful purchase of another home. If a contingency cannot be met, the party for whom it was established may legitimately withdraw from a contract. Related Glossary Terms: conditions
A condition that must be met before a contract is binding. Contingencies include: the property must appraise for sales price or buyers approving of various inspections.
Any condition that must be met in a contract. Contingencies may be built into a contract by either the buyer or a seller. For example, the buyer may need to sell their house first or may want an appraisal and inspections done. A seller may want to secure a new home before the sales transaction occurs. Under a contingency situation, the contract does not become binding until the specified condition is met.
Commonly, a staed event which must occur before a contract is binding. For example, a home sale may be contingent upon the buyer obtaining financing.
A condition that must be met before a contract is legally binding. For example, home buyers often include a contingency that specifies that the contract is not binding until the purchaser obtains a satisfactory home inspection, an appraisal report, attorney review, or possibly finds a buyer for their own property.
A condition placed on a contract that must be met in order for the contract to be legally binding. For example, a bid placed on a house might contain a contingency that states the house must pass inspection.
A specific condition that must be met before a contract is legally binding. Usually that the house must pass the home inspection and the borrower must get a loan.
A condition that must be met before a contract is binding. Conventional Loan - A fixed-rate, fixed-term loan that is made without government insurance.
A condition in an agreement of sale specifying certain events that must take place prior to closing.
A condition that must be met before a contract is binding such as a property inspection, financing, a house to sell.
A contractual provision that renders an agreement incomplete until a designated event (such as an inspection or an escrow payment) occurs.
A condition that must be met before a contract is "legally binding," that is, before a consumer must legally complete what is agreed to in the contract.
The dependence upon a specific, stated event which must occur before a contract becomes binding.
An allowance made to provide for or protect desirable conditions in the future.
A condition that must be met before a contract is legally binding. Conventional Mortgage Any mortgage that is not insured or guaranteed by the Federal Government.
A relation between two events in which one is dependent upon another. If the contingency is greater than zero, then the probability of event will be greater when event is present than when it is absent.
A condition that must be met before a contract is legally binding; something liable to happen.
A condition specified in a purchase contract, such as a satisfactory home inspection.
A provision in a contract stating that some of all of the terms of the contract will be altered or voided by the occurrence of a specific event.
A condition that must be satisfied before a contract is binding. For instance, a sales agreement may be contingent upon the buyer obtaining financing.
Contingency is a condition that must be met before a contract is legally binding. For example, a home buyer may specify that the contract isn't binding until he obtains a satisfactory home inspection report from a qualified home inspector.
A condition that must be met before a contract is legally binding. For example, home buyers often include a contingency that specifies that the contract is not binding until after a satisfactory report from a qualified home inspector. See home inspection. Back
A condition of sale which must be met to make a contract binding.
Conditions that must be met in order for a contract to be binding. For example a home sale contract may have a mortgage approval contingency stating that if the buyer cannot qualify for a loan, the contract would be void.
A condition that must be met before a contract is legally binding. A typical real estate transaction often includes a contingency that the contract is not binding until the purchaser obtains a satisfactory home inspection report from a qualified home inspector service.
A plan for something that may occur but is not likely. For example, your offer may be contingent on the home passing a home inspection. It the home does not pass inspection, you're protected.
A condition which must be satisfied before a contract is legally binding.
Guidelines concerning an event that may arise in the future, will need to be dealt with and therefore must be prepared for.
A condition put in a contract that must be met for the contract to be binding.
A provision in a contract that requires a certain act to be done or a certain event to occur before the contract becomes binding.
A clause that allows a buyer or seller to pull out of a contract for a specific reason. Contingencies serve to protect you against getting stuck in a bad deal or unfavorable situation – think of them as an escape door. Three common contingencies used by buyers when making an offer are: (1) a property inspection clause, which says a deal is contingent on a thumbs-up inspection of the home and grounds (2) a financing clause that lets you bow out of a deal if your loan isn't approved and lastly (3) a clause that gives you an out if the property's appraised value falls short of the selling price. Sellers often include a contingency clause in the contract giving the buyer a deadline to get an approval on a loan.
A condition that must be satisfied for a loan or commitment to remain binding. Conventional Mortgage - Any mortgage loan that is not insured by FHA or guaranteed by VA or is funded by a government authorized bond or grant.
A requirement in a contract that must occur before that contract can be finalized.
A clause in a contract that requires the completion of a certain act or the occurrence of a certain event before the contract is binding.
a term place into a real estate contract that must be met for the contract to be binding on the buyer and seller.
Condition which must be satisfied before the buyer can complete the purchase of a property. Contingencies are generally outlined in the purchase contract between the buyer and seller.
A condition that must be met before a contract is legally binding. For example, homebuyers often include a contingency that specifies that the contract is not binding until a qualified buyer for their current home is found.
An event upon which a valid contract is dependent.
A condition that must be met before things are final. Some home offers have a contingency that the buyer sell their home before the offer is honored.
An event that may or may not occur.
A condition that must be met before a contract is legally binding.For example, a lender's commitment to provide financing to a borrower may be contingent on receipt of an acceptable appraisal.
A potential event, such as a loss of generating capacity or other power system component, for which preparations are made.
A condition that must be met for the property sale to go through, such as a satisfactory home inspection or approval for a mortgage.
contract Community Reinvestment Act
(known in Britain as Pre-Contractual Stipulation) A clause or condition with a contract stating what the buyer or seller must satisfy before the purchase can be completed.
(1) An exposure to risk. (2) For an insurance company, an unexpected event that causes the insurer's actual expenses, investment earnings, mortality rates, or persistency rates to deviate significantly from company assumptions.
Any condition that must be satisfied before a contract is binding. For instance, a sales agreement may be contingent upon a buyer having financing in place.
A condition that must be met before a contract is legally binding. Buyers and sellers often each add several contingencies.
A percentage taken in the event of a victory instead of payment upfront
A condition that must occur before a contract is legally binding. For example: The sale of a house is contingent upon the buyer obtaining financing. back
A condition that must be met before any agreement on a property is complete.
A provision in a contract that must be satisfied before the contract can be executed. A buyer's contingency to sell his/her current home before purchasing a home is an example of a contingency.
Condition (inserted into the contract) which must be satisfied before the buyer purchases a house.
