If you’ve started the process of buying a home in Brookhaven, you’ve probably come across the term “contingency” more than once. And if you’re not exactly sure what it means, you’re not alone. We walk buyers through contingencies every day—they’re an essential part of protecting your investment and navigating negotiations. In this post, we’ll break down what real estate contingencies are, why they matter, and how to use them strategically in Brookhaven’s fast-paced market.
Key Takeaways
- Contingencies give buyers legal ways to back out if key conditions aren’t met
- The most common types involve financing, inspection, and appraisal
- Too many contingencies can weaken your offer in a competitive market
- Working with an agent helps you use contingencies wisely—not fearfully
What Is a Real Estate Contingency?
A contingency is a clause in your purchase contract that makes the deal dependent on specific conditions being met. If those conditions aren’t satisfied, you can typically walk away from the transaction without losing your earnest money. In other words, contingencies protect you from being forced to buy a home with unexpected issues or financing failures.
Why Contingencies Matter for Brookhaven Buyers
- They create legal protections that give you time to verify the property’s condition and financing terms
- They give you leverage to negotiate repairs or price adjustments
- They prevent rushed decisions, especially when emotions run high after an offer is accepted
- They’re common practice in Brookhaven—even in competitive scenarios, buyers still use key contingencies strategically
We help you understand which ones are worth keeping and which might cost you the deal.
Common Types of Contingencies
While every offer can be tailored, there are a few contingencies we use most often when helping buyers in Brookhaven. Knowing what these cover gives you peace of mind throughout the process.
Core Contingencies Every Buyer Should Understand
- Inspection contingency: Lets you cancel or renegotiate based on the findings from a licensed home inspection
- Financing contingency: Protects you if your mortgage loan is denied after the offer is accepted
- Appraisal contingency: Ensures the home’s appraised value meets or exceeds your offer amount
- Title contingency: Gives you a way out if there are legal issues with the ownership history of the property
- Home sale contingency: Allows you to close only if your current home sells first
In Brookhaven’s competitive neighborhoods—like Ashford Park or Historic Brookhaven—sellers may push back on some contingencies. That’s where strategy and timing matter most.
When You Should Keep Contingencies in Place
In many cases, contingencies are your safety net—and giving them up too early can be risky. Even in hot markets, it’s possible to keep protections in place without losing your edge, especially with the right presentation and negotiation.
How to Know When Contingencies Are Non-Negotiable
- You’re buying an older home and need to understand repair costs before committing
- You’re not paying cash and need final loan approval
- The home has been sitting on the market and the seller is open to a more flexible deal
- You have concerns about pricing and want the appraisal as a guardrail
- You’re new to the process and want the peace of mind contingencies offer
We’ll help you determine what’s standard, what’s risky to waive, and what makes sense based on the specific home and seller situation.
When You Might Consider Waiving a Contingency
In some Brookhaven deals—especially for in-demand properties near Dresden Drive or Brookhaven Village—waiving a contingency can make your offer stand out. But it’s a calculated move that needs to be backed by experience, financing confidence, and a solid plan.
What to Weigh Before Waiving a Contingency
- Your risk tolerance: Are you comfortable moving forward if the inspection reveals issues?
- The condition of the property: Has the home already been pre-inspected or recently renovated?
- Your financing strength: Can you close quickly or pay cash?
- Market pressure: Are there multiple offers on the table?
- Seller motivation: Are they more likely to accept a clean offer with fewer strings attached?
We never recommend waiving contingencies blindly—but in certain cases, it can be the difference between winning and losing your dream home.
How Contingency Timelines Work
Every contingency comes with a deadline, and it’s critical to meet those deadlines if you want to stay protected. We make sure all dates are tracked, negotiated, and respected throughout your transaction.
What to Know About Contingency Deadlines
- Inspection period: Typically 7–10 days from contract acceptance
- Financing contingency: Often 21 days or until loan commitment is issued
- Appraisal deadline: Usually aligned with financing but may be negotiated separately
- Response windows: Sellers have a set time to respond to repair requests or contingency removals
We manage these timelines for you, ensuring you never miss a critical date that could cost you leverage—or your earnest money.
FAQs
Are contingencies still used in competitive Brookhaven markets?
Yes—most offers still include at least an inspection or appraisal contingency. We help you craft a competitive offer that also protects your interests.
Can I get my earnest money back if I cancel under a contingency?
If the condition tied to the contingency isn’t met and you follow the contract terms, yes—you’re typically entitled to a full refund.
Should I ever waive all contingencies?
In rare cases with strong financing and low-risk homes, it might be smart—but only with professional guidance. We’ll help you evaluate the risks and rewards.
Reach Out to SET Real Estate Group Today
Understanding contingencies isn’t just about knowing legal terms—it’s about knowing when to use them and how to make them work in your favor. At SET Real Estate Group, we walk you through every clause, timeline, and strategic decision so you can feel secure and informed.
Whether you’re buying your first home or competing for your forever home in Brookhaven, we’ll help you use contingencies to protect your interests without weakening your offer. Reach out to
SET Real Estate Group today, and let’s create a buying plan that gives you confidence from contract to closing.
*Header photo courtesy of SET Real Estate Group
