Contingency Removal Form With Two Points In San Jose
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FAQ
Removing Contingencies In California, there is a process of “active contingency removal.” This means buyers must remove them in writing. In other words, a contingency is not automatically removed. This applies even if the time frame for their removal passes.
A home inspection contingency is one of the most often waived conditions. This is because details of the home's condition may already be publicly available or accessible through the seller. Waiving a home inspection also doesn't impact their ability to get financing.
A home inspection contingency means that the buyer's offer only stands dependent on the results of a home inspection. Within the formal offer, the contingency should include timeline details when it comes to getting the inspection completed. You can raise objections to the seller, and re-negotiate based on the results.
The buyer has to provide one, or more, signed Contingency Removal forms. Each one removing, or more, of the contract contingencies. Once the buyer has removed all of them in writing, they may no longer receive a refund of their deposit.
