Dear Monty: We are going to buy our first home this year. We are investigating using an agent or buying directly from a for-sale-by-owner (FSBO). Some friends have used agents, while others have not. We want more information on the contingencies we may require. Do you have a checklist of contingencies to use in purchase offers?
Monty’s Answer: Most home sales require contingencies. Do not buy these services until you have a purchase contract. Sellers know this because they needed contingencies when they bought the house. There are standard forms to use, but also circumstances where no common form exists. Whether you buy an FSBO or from an agent, here is a link to a Dear Monty article with guidance on how to write a contingency. There are many potential contingencies. The 9 common contingencies with the most important concerns are listed below….