Contingency Contract For Home Sale In Phoenix

State:
Multi-State
City:
Phoenix
Control #:
US-00442BG
Format:
Word; 
Rich Text
Instant download

Description

There are various types of attorney fee arrangements such as time based, fixed, or contingent. Time based means a fee that is determined by the amount of time involved, such as so much per hour, day or week. Fixed means a fee that is based on an agreed amount, regardless of the time or effort involved or the result obtained. Contingent means a certain agreed percentage or amount that is payable only upon attaining a recovery, regardless of the time or effort involved.


With a contingent fee arrangement, the lawyer receives no fee unless money is recovered for the client. Upon recovery, the lawyer is paid an agreed-upon percentage, usually ranging from an amount equal to 25 to 50 percent of the amount recovered. A written fee agreement should specify the costs and expenses to be deducted and whether such costs and expenses are to be deducted before or after the contingent fee is calculated. Contingent fee agreements are generally not permitted for criminal cases or domestic relations matters.


Even if there is no recovery, however, the client is still responsible for court costs (filing fees, subpoena fees, etc.) and related expenses, such as telephone charges, investigators' fees, medical reports, and other costs.


This form is a fairly typical contingent fee agreement

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  • Preview Contingency Fee Agreement with an Attorney or Law Firm
  • Preview Contingency Fee Agreement with an Attorney or Law Firm

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FAQ

The three-term contingency (also known as the ABC contingency) is a psychological model describing operant conditioning in three terms consisting of a behavior, its consequence, and the environmental context, as applied in contingency management.

A home inspection contingency is often the most common real estate contingency. The National Association of Realtors® estimates that about 80% of buyers include a home inspection contingency in their contract.

We want to help you prepare for the worst-case scenario, which is why we created this straightforward guide to three types of contingencies: Design contingencies. Bidding contingencies. Construction contingencies.

The 3 Types of Group Contingencies. Group contingencies can be a powerful tool in ABA, using group dynamics to motivate behavior change. Let's explore the three main types: independent, dependent, and interdependent.

In real estate, contingent means a property has accepted an offer, but the sale is not finalized. The deal hinges on meeting specific conditions. Common contingencies include home inspection, appraisal, financing, title verification, and home sale clauses.

A contingency is a potentially negative event that may occur in the future, such as an economic recession, natural disaster, or fraudulent activity. Companies and investors plan for various contingencies through analysis and implementing protective measures.

Implement a different type of group contingency. There are three different types: dependent, independent and interdependent.

The most common contingency is the home inspection contingency. This condition on an offer states the home sale will only be finalized if the property passes a professional home inspection. In other words, buyers can walk away from a home sale if the home inspection turns up serious problems.

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Contingency Contract For Home Sale In Phoenix