gives you time to review the Transfer Disclosure Statement (TDS) and other required reports that reveal the property’s known defects, repairs, and material facts. If the disclosures uncover issues you weren’t aware of or are uncomfortable accepting, this contingency allows you to cancel or renegotiate the terms without penalty. Paperwork with teeth. Read it like it matters—because it does. • Sale of Current Home: Sometimes buyers include a contingency that their purchase depends on selling their current property first. • Title Contingency: A title contingency protects you by ensuring the seller can transfer clear ownership of the property. During this period, the title report is reviewed for issues such as liens, unpaid taxes, easements, or ownership disputes. If a problem surfaces and can’t be resolved, this contingency allows you to renegotiate or walk away without losing your deposit. Quiet protection, huge importance. Title is boring—until it isn’t. Contingencies protect both buyers and sellers, and understanding them is key to negotiating a smooth transaction. Being thorough, organized, and guided by a knowledgeable agent ensures your offer is strong, legally compliant, and positioned for success.
Step #10: Deposit Earnest Money Into Escrow
Once your offer is accepted, the next step is depositing earnest money (EMD) into escrow. This deposit shows the seller you are acting in good faith and intend to complete the purchase. The earnest money deposit is placed into escrow shortly after offer acceptance (typically within 3 business days, unless
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