What Are Contingencies in a Real Estate Contract in Ohio? – Cin-Day Group Realtors Explain

What Are Contingencies?

A contingency is a built-in safeguard. It allows buyers or sellers to back out of a deal without penalty if certain terms aren’t met — such as financing, inspections, or insurance. In Ohio, these clauses are standard and can be customized to fit your situation.

Common Contingencies in Ohio Real Estate

Home Inspection Contingency

Lets buyers hire a professional inspector. If major issues arise, buyers can request repairs, negotiate, or cancel the deal.

Appraisal Contingency

Ensures the property appraises at or above the agreed price. If it’s lower, buyers can renegotiate or walk away.

Financing Contingency

Gives buyers time to secure mortgage approval. If financing falls through, they can cancel without penalty.

Home Sale Contingency

Allows buyers to sell their current home before committing to the new one — helpful in balanced Southwest Ohio markets.

Title Contingency

Protects buyers if the title search reveals liens or ownership disputes.

Insurance Contingency

Ensures buyers can obtain homeowners insurance at a reasonable rate. If coverage is denied or costs are excessive, they can back out.

HOA Contingency

Gives buyers time to review HOA fees, budgets, and rules. If the terms aren’t acceptable, they can withdraw within the review period.

Why Contingencies Matter

Contingencies balance protection and flexibility. In competitive markets, buyers may waive some to strengthen offers. In other conditions, they’re essential safeguards. Cin-Day Group Realtors help clients make smart, confident decisions about which contingencies to include or adjust.

Ready to Buy or Sell a Home in Southwest Ohio?

The Cin-Day Group’s local experts make every step — from contingencies to closing — clear and stress-free. Contact us today to get started!