Real Estate Term of the Day: Conditions
CONDITIONS (aka: Contingency Clause) – provision(s) in a contract that some or all terms of the contract will be altered or cease to exist upon a certain event (Barron’s Dictionary of Real Estate Terms)
Common conditions that can be negotiated between the buyer and seller in a Colorado Contact to Buy and Sell Real Estate (residential) are:
- Title review
- Off-Record Title review
- Association Documents review
- Loan Conditions
- Appraisal
- Survey
- Inspection
- Property Insurance
- Due Diligence Documents review
