Contingency

Definition

• A condition that must be met for the property sale to go through, such as a satisfactory home inspection or approval for a mortgage.

Synonyms
conditional, dependent on, subject to

Related Terms and Acronyms

• Conditional Sale (C/S) — Acronym,
  • An agreement between the buyer and seller in where certain conditions must be met before the property sale can be finalized.
• Contract — Definition,
  • An agreement between two or more parties that can be enforced by law.
• Home Inspection — Definition,
  • A thorough examination of a house's visible structural parts and systems, conducted before purchase.