what is release of contingencies
Good evening. Typically a real estate contract will contain several contingencies. Common contingencies include a contingency for an inspection, for an appraisal, and/or for financing. This means that the buyer's obligation to perform is subject to satisfaction of these contingencies. A release by the buyer of the contingencies means that that the contingencies have either been satisfied or waived and the contract is no longer contingent upon these items. The result is that the buyer no longer has any right to terminate based on any of the contingencies. I hope this has given you information that has been helpful to you. If the information seems more general than specific, please be aware that we are only allowed to provide information and not specific advice.