I was a licensed Realtor for over 15 years up north. The agents of The Villages are not Realtors (members of NAR) and the “practices” here would not be found in most other places of the country. A mortgage contingency (which is pretty standard practice on a resale and should be considered by a resale seller as a likely contingency of sale) will protect you from a property not being able to be insured, but not from you not liking the insurance premium. A mortgage contingency will also help to protect you should the property not appraise for the sale price (but not as well as an appraisal contingency outside of the mortgage contingency). Once you have a property address it should be fairly easy to get a insurance quotes for coverage before you sign the contract on the home. Where I am from, inspections are done before contract signing so that is never a contract contingency, only a contingency at offer. The house is continued to be shown while you schedule and do the inspections so you could pay for an inspection and then lose the house to a higher offer before you sign the contract. If I was selling here, I would never accept an inspection or insurance contingency in the contract and would tell the buyer to address it before you sign.
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