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Contingencies in Real Estate

Contingencies in a real estate contract are things that have to happen before you can close the transaction. Some of these contingencies have a time limit, and some just have to happen at any time before the closing. Since I am a Realtor in Greenville South Carolina, I will be talking about the contingencies in our Greater Greenville SC real estate contract. If you live in another area, there may or may not be some additional contingencies.

Financing Contingency

This is probably the most important contingency in a real estate transaction. If you are paying cash for your home, then this contingency does not apply to you. However, if you are getting a loan, then the lender must approve your loan and fund it in order for you to close on the house. If you are buying Greenville SC real estate, you will need to get a pre-approval letter from a lender when making an offer. If the seller happens to accept your offer without one, then you will have a specified amount of time to apply for financing.

Appraisal Contingency

Of course the home you are buying has to appraise for no less than the sales price. However, if it does appraise for less, then the seller will either have to lower the price, or you can choose to cover the difference, or walk away for the contract and get your earnest money back. The appraisal is usually ordered by the lender, or an appraiser of your choice if you are paying cash.

Sale of Another Home Contingency

Unless your current home is already under contract, most sellers will not want to accept a contract that is contingent on the sale of your home. Most sellers will not want to loose the exposure on their home by taking it off the market while you try to sell yours. The seller that accepts this contingency will probably not be willing to negotiate much on the price, unless they are really motivated.

Inspections Contingency

In a Greenville real estate contract, the buyer will have an inspection period that is agreed to by both parties. Lets say the inspection period is 10 days, within 10 days, you will have to do your home inspection, termite inspection, radon inspection, and any other inspections you want done. If both parties agreed to the buyer's right to terminate, then you will have the unilateral right to reject the condition of the home, terminate the contract and get your earnest money back. If you choose to proceed with the contract, then you can request repairs from the seller during your 10 day inspection period.

Other Real Estate Contingencies

The contingencies mentioned above are the most common in a real estate transaction. However, there are other contingencies that could be added into the contract. For example, if the buyer has not seen the Seller Disclosure yet, then the contract can be made contingent on the buyer's approval of the Seller's Disclosure.

Please contact us at 864-438-5050 for more information about Greenville SC real estate and homes for sale or to work with one of our Greenville SC real estate expert Realtors.

Hot New Greenville SC Homes for Sale Listings

5 Beds 3 Baths 1520492 MLS
Welcome to your dream home nestled in the heart of the highly-desired Victoria Park neighborhood, just a stone's throw away from Fairview Road. This expansive 5-bedroom, 3-bathroom residence boasts over 2200 square feet of living space, promising a lifestyle of unparalleled comfort convenience. As you step through the inviting threshold, you're greeted by an abundance of natural light casting a warm glow throughout the open-concept floor plan. The spacious living area invites you to unwind in front of a cozy fireplace, perfect for those chilly evenings with loved ones. Entertain with ease in the gourmet kitchen, where sleek granite countertops, stainless steel appliances, and ample cabinet space inspire your culinary creations. The adjoining dining area offers a picturesque backdrop for intimate dinners or lively gatherings, with sliding glass doors leading to a private patio oasis, ideal for al fresco dining or morning coffee. Retreat to the tranquil master suite upstairs, featuring a large ensuite bathroom complete with a luxurious soaking tub, dual vanity sinks, and a separate glass-enclosed shower—a serene sanctuary to relax and rejuvenate after a long day and closet space abound. Four additional bedrooms offer versatility for guests, a home office, or a playroom, each thoughtfully designed with comfort and style in mind. Outside, enjoy an enclosed patio space with a private fenced in backyard. Conveniently located near top-rated schools, major highways, and all the attractions that Simpsonville has to offer, this exceptional residence presents an unparalleled opportunity to live a life of convenience. Don't miss your chance to call this stunning house your home—schedule your private showing today and experience this fantastic opportunity in Victoria Park!

811 Camberwell Road, Simpsonville

5 Beds 4 Baths 1520429 MLS
Welcome home to the lovingly-maintained 403 Litchfield Trail! Located in the convenient location of Five Forks area in Simpsonville. Close to everything you need with easy access to 385, 85, and 101! This is a 5 bedroom + bonus room that has a closet so it could be used as a 6th bedroom if need be. HUGE FENCED BACKYARD with irrigation! The primary suite is located on the second level with an impressively large walk-in closet and ensuite. Make sure you check it out on your tour! There is a secondary master bedroom/guest suite located on the main floor with a full bathroom. This is perfect for in-laws, adult children, or weekend guests! Also on the main level you will find a large formal dining room, over-sized flex room that could be used as an office, play room, library, home school room, or sitting room. There is an open concept great room, breakfast area, butler’s pantry and beautiful modern kitchen with walk in pantry. The kitchen has tons of storage, beautiful quartz counters, range hood, gas range, tile backsplash, and walk-in pantry. Enjoy the convenience of a mudroom area and large walk-in laundry room located right off the garage. Upstairs you will find a total of 4 bedrooms + a huge bonus room with closet. One of their bedrooms has it’s own private full bath and the other two rooms share another full bath. Enjoy the four seasons South Carolina has to offer with both a covered front and back porch. The back porch has an exterior fan and looks out to a spacious fenced backyard. This is a fescue lawn and has been well-maintained and Turf Masters is who has serviced the chemical treatments. So many extras stand out in this house such as built-in bookcases to flank the fireplace, coffered ceilings, quartz counter tops, exterior lighting with timers, beautiful 5” engineered hardwood floors, and modern ceramic tile in the bathrooms and laundry. Pestban has provided treatment on the home. Move this one to the top of your list! Floor plans included in listing photos!

403 Litchfield Trail, Simpsonville

4 Beds 3 Baths 1520426 MLS
Welcome Home! Very well maintained 4 bedroom 3 bath home in the desirable Kilgore Farms neighborhood! Home has fresh paint and new carpet throughout and a new stainless refrigerator. As you enter you notice a beautiful two story foyer and wood staircase. Open floor plan with a fabulous kitchen with granite countertops, large eat-in island, tile backsplash, 42" cabinets, stainless steel appliances, gas cooktop with hood, wall oven and built in microwave. Living room features gas logs with a gas starter fireplace, book shelves, cabinet storage and 10 foot ceiling. Guest room and 1 full bathroom on main level. Coffered ceilings in the office/flex room, tray ceiling in dining room. Beautiful hardwoods throughout most living spaces on main level. Master bedroom/bath upstairs is very spacious with a large sitting room, double vanities, garden tub, tile shower and two large walk-in closets. Upstairs also features 2 more spacious bedrooms, 1 full bathroom, loft area, walk-in laundry room and a Huge media/rec room with wet bar. Energy efficient home featuring spray foam insulation in the attic and walls, low E windows, LED lights, tankless water heater and more. Backyard is spacious and mainly flat with a large covered patio just off of the kitchen for outdoor entertaining. This home is located in the desirable Five Forks area in Simpsonville, just minutes from MESA Soccer Complex, GSP airport, dining, grocery stores, shopping, and much more. Neighborhood features two pools, playground, tennis courts, clubhouse, and events throughout the year. Kilgore Farms truly is a special place! Welcome Home!

201 Peters Glenn Court, Simpsonville

4 Beds 4 Baths 308874 MLS
Behold the exquisite beauty of 105 Fort Dr., situated in the coveted Kilgore Farms development of Simpsonville! The residence features exceptional craftsmanship that is certain to captivate and impress with its remarkable beauty and attention to detail. Upon entering the foyer, you will instantly feel welcomed by the grandeur of the elegant great room with its lofty, vaulted ceilings that create an overall sense of openness and luxury. The entire home is well-appointed with thoughtful details, such as wainscoting and warm hardwood floors, which add a touch of refinement at every turn. The living room is centrally located, complete with a marble-tiled fireplace that exudes sophistication and elegance. The kitchen is a chef's dream, with stainless steel appliances, a farmhouse sink, a pot filler faucet, a double oven, and an oversized granite island that you will have to see to believe! The modern craftsman cabinets throughout the kitchen provide ample storage space and practicality. The breakfast room is a cozy and bright space, perfect for starting your day with a cup of coffee while enjoying the serene views of the backyard. In addition to the stunning living areas, this home boasts a formal dining room that is conveniently located near the kitchen and is perfect for hosting large family gatherings and dinner parties. The primary suite situated on the main level is a true oasis and exudes luxury and refinement. The primary bathroom is a spa-like retreat featuring timeless granite counters, double sinks, a zero-entry walk-in shower, a standalone tub, and a private toilet room. The suite also includes a spacious closet equipped with double closets, providing ample storage space. Extended from the primary suite, you will find a bonus space for a reading nook or exercise area. Two additional bedrooms are positioned off the primary living space, with large closets allowing for abundant storage. The walk-in laundry room is efficiently designed, with stackable appliances, offering ease of use and convenience. The home's second level includes an additional bedroom with a full bath for a more secluded area to welcome family or visitors. The upper level also features a finished room above the garage as a bonus room, perfect for a hobby or additional storage, equipped with custom wood shelving to keep everything organized. For those who enjoy outdoor activities, this property offers an ideal solution. The property's backyard has a covered porch and a fully fenced-in yard, making it an ideal spot for hosting outdoor events, barbecuing, or simply enjoying the serene atmosphere. Furthermore, this property features a capacious, attached two-car garage with more storage for tools, equipment, and outdoor gear. Kilgore Farms' amenities include a pool, playground, cabana, cookout facilities, and several acres of wooded space along Peters Creek! Within a short distance from the community, you will find an extensive selection of restaurants and stores catering to various tastes and needs. The possibilities are endless in this captivating home that truly has it all!

105 Fort, Simpsonville

3 Beds 2.5 Baths 1520356 MLS
Nestled within the vibrant community of Simpsonville right off Fairview Road, this delightful residence offers the perfect blend of comfort, convenience, and picturesque surroundings. Boasting 3 bedrooms, 2.5 bathrooms, and a spacious bonus room that can easily serve as a 4th bedroom, this home provides ample space for growing families. Step inside to discover a well maintained interior adorned with newer flooring throughout, creating a seamless flow from room to room. The updated powder room adds a touch of elegance to the main level, perfect for guests. The main level offers a formal dining room perfect for family dinners and a cozy living room for those family movie nights. The heart of the home, the kitchen, features upgraded soft-close cabinetry, granite countertops, and modern appliances, providing both style and functionality for all your culinary endeavors. Meal preparation has never been more enjoyable. Also enjoy the breakfast nook overlooking the pond. What is better than morning coffee watching geese and ducks? Embrace the sense of community in this family-friendly neighborhood, complete with two playgrounds, a sparkling pool, and scenic walking trails. Community events throughout the year ensure there's always something for everyone to enjoy. Rest easy knowing that major components of the home have been recently replaced, including the roof, water heater, and HVAC system, ensuring peace of mind for years to come. With its convenient location within minutes of 385, Heritage Park, shopping, and restaurants, abundance of amenities, and peaceful pond views, this home offers a lifestyle of comfort and serenity. Don't miss out on the opportunity to make it yours. Schedule your showing today and experience the best of Simpsonville living!

505 Fairview Lake Way, Simpsonville

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