A. Sales contracts typically contain several “contingency” clauses, or stipulations that the sale is subject to. Typical contingencies include a buyer’s ability to obtain financing, inspections (structural/mechanical, wood destroying insect, radon, chimney, well and septic, etc.); HOA/Condo association document reviews, etc. If any of the contingencies that were stipulated in the contract cannot be removed, the contract is declared null and void and any earnest money deposit should be returned to the buyer.
