What is Contingency? | REAL-ESTATE-SALESPERSON Exam Prep

A contingency is a condition or clause in a real estate contract that must be satisfied before the transaction can close, allowing buyers to cancel without penalty if the condition is not met. 📚 Learn more about Contingency and other key terms for your REAL-ESTATE-SALESPERSON exam at Open Exam Prep. 🎯 This term appears on: REAL-ESTATE-SALESPERSON 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Contingency definition: https://www.open-exam-prep.com/glossary/contingency 💡 Exam Tip: Contingency = condition that must be met. If not met, buyer can cancel and get earnest money back. Know common contingencies: financing, inspection, appraisal. --- #real-estate #examprep #financeexam #real-estate-salesperson