Contingency period
The window of time a contingency stays active. Once it passes without action, the contingency is usually treated as satisfied and can no longer be used to back out.
Every term like this one lights up in the step you're on.
Free to set up. No credit card.Part 1 of 4
Why a seller cares
The deadlines are what turn a maybe into a sale. Once the inspection window closes with no notice, that door is shut; until it closes, the buyer can still leave for that reason.
Part 2 of 4
A simple example
Ratified on the 1st with a ten-day inspection contingency. On the 11th, with no notice from the buyer, the inspection contingency is treated as satisfied.
| When the buyer speaks | What it means for the deposit |
|---|---|
| Day 8: asks for repairs | Inside the window; the negotiation is open |
| Day 10: sends notice they are walking | Inside the window; the deposit usually goes back to them |
| Day 14: finds a problem and wants out | The window closed; leaving now may cost the deposit |
The window is what makes a contingency temporary. The date matters as much as the reason.
Part 3 of 4
What people get wrong
That a contingency lasts until closing. Most expire on a date in the contract, and after it the buyer's reasons for leaving get expensive.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
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