Resolving Contingencies

Please refer to your contract for the precise terms of your contingencies. Some of the most common contingencies in Virginia are:
Sale of Home
When it's a buyer's market, it is possible to make the purchase of your next home contingent on the sale of your current home. Generally this contingency won't be accepted in a Seller's market. Your realtor should be able to guide you on how to best use this contingency.
Home Inspection
It is a good idea to have a home inspection on your new home, even if it's just for informational purposes. "For Information Only" allows the buyer to learn about the house without a kickout from the contract. The standard Home Inspection contingency allows the buyers to address major issues about the house with the sellers. Solutions may range from full repairs to a monetary allowance to nothing at all.
Radon Inspection
Radon may be found in one townhouse while the home next door has none. Ask your home inspector if radon inspections are available or request a referral from your real estate agent. Radon inspections may also be done for your information only.
Lead Based Paint
Houses built prior to 1978 may contain lead based paint. It is strongly recommended to have the home tested to find out if lead paint is in the home and the condition of the paint. For more information, refer to: