{"id":442,"date":"2016-07-29T10:26:58","date_gmt":"2016-07-29T10:26:58","guid":{"rendered":"http:\/\/www.getmobileapp.ca\/mymortgagepros\/?p=442"},"modified":"2024-02-08T05:46:13","modified_gmt":"2024-02-08T05:46:13","slug":"first-time-home-buyers-tips-to-protect-from-contingencies-and-disclosures","status":"publish","type":"post","link":"https:\/\/mymortgagepros.com\/first-time-home-buyers-tips-to-protect-from-contingencies-and-disclosures\/","title":{"rendered":"First time home buyers? Tips to protect Yourself!"},"content":{"rendered":"

Buying a home<\/a> is a dream for many. Getting the right house with the hard earned salary requires proper planning and guidance. One has to be really careful in making sure that they get the house for the money\u2019s worth and has to finish many formalities in order to finalise the deal on the house. There are many forms of contingencies and disclosures that have to be in order to make sure that you do not spend money than it should be spent.<\/p>\n

All the first time home buyers<\/a> need to be extra cautious about the deals and the transactions. They are generally advised to get the help of the professionals who have some experience in the field. Since this deals with a lot of money, it is always better to get the help of some experienced person who would be able to guide you in finalising the deal after making sure that you do not face any threat from the disclosures or the contingencies that follows.<\/p>\n

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What are the contingencies and disclosures?<\/h3>\n
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Contingencies are the set of deals that are struck between a buyer and a seller. This is called as the \u201cIf-Then\u201d deals. For instances, the buyer would have a deal with the seller of the house that, \u201cIf\u201d I am able to sell my current property, \u201cthen\u201d I would buy the property from you. These are included in the purchase contract and some can be controlled and the others cannot be. Some common contingencies that have to be in order are:<\/p>\n