I don't know about Florida, but I can tell you that here, contingencies just mean the contract can be voided and the buyer receive their earnest money back.

Its also common in these deals even if they sign them they are contingent on you providing prequel they accept or POF.in our market no REaltor worth their salt would even show you a house or write an offer without a rock solid pre qual or POF ready to submit with the offer.

I am new and this is my first deal, the contract is contingent on inspection, I have next week to decide, so desperately need advice here!

The contract is contingent on inspection, I have next week to decide, so desperately need advice here!

What I have generally recommended is that they first locate the property they want to purchase, then put in a contract contingent on the sale of the property they want to dispose of. 

The good thing about this business is that the sale has no contingencies, no underwriter to turn it down, no banks, no need for appraisals no fear of cancellation.I was also burned out, but the auction business helped me to overcome that condition.Charles

Additionally, in most markets contracts are contingent upon financing if they they fail to qualify the buyer is entitled to the return of their EM.

As long as you put contingencies to allow you to back out of a deal, then it's no problem.

Hi Nick:1) Direct mail - Somerville - small letter to absentee owner (gut rehab)2) Direct mail - South Boston - small letter for drive-by property (new construction)3) MLS - South Boston - they said no contingencies, but we put one in for ZBA approval and offered them full price - they decided to accept (new construction)We've got a number of leads coming in through our RE Agent, direct mail, and wholesalers.

I actually figured about an extra $4K into that rehab figure as a contingency fund.