THE SECRET CLAUSE THAT SAVES YOUR EARNEST MONEY
Yesterday, a move-up buyer called me in a panic. They put down a $5,000 earnest money deposit on a house over the weekend. But during the walkthrough yesterday, they realized the roof was way older than the seller claimed.
They asked, “Jeremy, are we going to lose our $5,000 deposit if we walk away from this deal?”
I told them, “Take a deep breath. Your money is completely safe because we made sure you had an INSPECTION CONTINGENCY in your contract!”
Think of an earnest money deposit like putting a security deposit down on a vacation rental house. You put the cash up to show you are serious about staying there. But if you show up and the air conditioner is completely broken, you expect your money back!
A contingency is your ultimate safety net in a home purchase. It gives you a legal exit ramp to walk away with every penny of your deposit if something goes wrong!
Here are the big three safety nets every buyer needs in their purchase agreement:
| Contingency Type | What It Protects You From | Your Escape Hatch |
| Inspection Contingency | Hidden structural issues, roof leaks, or bad wiring | Walk away or demand seller repairs |
| Appraisal Contingency | The home evaluating for less than your offer price | Renegotiate price or cancel contract |
| Financing Contingency | Unexpected loan denial or job changes | Full refund of your deposit money |
Yesterday, we helped that buyer use their inspection clause to request a $4,000 credit from the seller to fix the roof before closing. The seller agreed, and the deal is moving forward stronger than ever!
Never write an offer without protecting your hard-earned cash first.
Ready to write winning offers with bulletproof protection? Reach out today, get fully underwritten, and let us help you buy with complete confidence!
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Yesterday morning, a first-time home buyer walked into my office. They hold steady employment at a local healthcare system, maintain clean credit, and pay $1,650 every single month in rent.
Over the weekend, they toured a great starter home listed at $220,000 near Milwood.