Generally, contracts can make anyone nervous, however, a real estate agent can explain all the clauses within it and the contingencies that protect it when buying a property. Below we explain the most important:Inspection Contingency.Also called a “due diligence contingency,” gives the buyer the right to have the home inspected within a specified period, such as 5-7 days. It protects the buyer, who can cancel the contract or negotiate repairs based on the findings of a professional home inspector.
Appraisal Contingency. Protects the buyer, used to ensure a property is valued at a minimum, specified amount. If the property does not appraise for at least the specified amount, the contract can be terminated and the earnest money, in many cases, is refunded to the buyer.
Financing Contingency.Also called a “mortgage contingency,” gives the buyer time to apply for and obtain financing for the purchase of the property. This provides important protection for the buyer, who can back out of the contract and reclaim his or her earnest money in the event he or she is unable to secure financing from a bank, mortgage broker or another type of private lending.
House Sale Contingency.Although in most cases it is easier to sell before buying another property, the timing and financing don’t always work out that way. A house sale contingency gives buyers a specified amount of time to sell and settle their existing homes to finance the new one.
VETERAN BROKER RELEASES NEW BOOK TO NAVIGATE MIAMI’S HIGH-STAKESPRE-CONSTRUCTION MARKETGuillermo Teran Shares Insider Strategies to Help Buyers and Agents Avoid Hidden Fees, Costly Mistakes, and Investment Pitfalls in Miami’s Competitive Pre-Construction SceneMiami (Aug. 14, 2025)–After over 30 years and more than 500 transactions, Guillermo Teran, Broker and Founder of the Avanti Way Pre-Construction Community, has released Miami’s Pre-Construction Blueprint, a new book and guide that equips investors, digital nomads, luxury buyers, and real estate professionals with insider strategies to navigate Miami’s pre-construction market confidently, avoid costly pitfalls and maximize returns.Miami’s pre-construction market is one of the most competitive and complex in the...
Selling your first home is a big step, and without the right strategy, it can be overwhelming. Many sellers look back with regrets—What if I had priced it differently? What if I had negotiated better? To avoid those mistakes, here are key insights to help you sell like a seasoned pro.Be Emotionally Ready – Selling a home isn’t just a financial decision; it’s a personal one. Accepting that buyers will have opinions and negotiating objectively is key to a smooth process.Work with the Right Agent – Not all agents are the same. The right professional understands your market, positions your...