What is contingency?
A condition that must be satisfied, waived, or resolved before a party must proceed: inspection, financing, appraisal, title, or due-diligence contingencies. Allocates risk before closing.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.