Quote:
Originally Posted by villagetinker
I thought that was normal practice, however you may need to work out the details, like can you back out whole, or will you lose some of your deposit, etc.
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A buyer can include any contingency he/she wants before agreeing to purchase a home. The seller does not have to accept these contingencies. He /she can negotiate or refuse the offer and wait for another buyer. If the seller accepts the contingencies, he/she must follow through. In this case, if the buyer cannot secure insurance the sale is no longer valid. Both parties move on. The seller must find another buyer.