If I purchased a home not on contingency and find I cannot come
up with the down payment because my house either does not sell or
sells for less than what I expected, what are the consequences? I
assume that I would lose my down payment, but am I liable for
anything else?
I am at a loss to understand why you signed a contract to buy real
estate without including any contingencies.
There are many contingencies that can be included in real estate
contracts. Oversimplified, the existence of a contingency in a
contract means that if the event described in that contingency does
not happen, then the contract can be declared null and void, the
purchaser's deposit is returned and the seller ...