Buying a Home in Illinois: Inspection Contingencies in the Contract

A considerable amount of paperwork is involved when buying a home. To begin the process, buyers sign a detailed contract with the sellers which essentially takes the home off the market while other details--including securing financing, appraisals, and inspections--are finalized.  When buying a home, a critical contingency that the Contract calls for is the Professional Inspections and Inspection Notices section. The “contingencies” represent certain things that either must happen, or cannot happen, for the sale to go through. 

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