🚨 Before You Sign That Offer Sheet — Read This First!

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Aug 4
2 min read

Buying a home is a major milestone but before the excitement of submitting an offer takes over, it’s crucial to understand what you’re signing. At LJ Realty Team, we make sure our clients are protected every step of the way. One of the most important things to do? Review the offer sheet carefully and make sure it includes these key contingencies:

🔹 Agent Commission

Do you know who’s paying your real estate agent? In most cases, the seller covers this cost, but that’s not always the case. Make sure it’s clear from the beginning, so you’re not hit with unexpected fees later on.

🔹 Home Inspection Contingency

This allows you to hire a licensed home inspector before finalizing the purchase. If the inspector finds major issues like foundation cracks, roofing problems, or outdated plumbing you have the right to renegotiate or walk away without losing your deposit.

🔹 Appraisal Contingency

Your lender will order an appraisal to confirm the home’s value supports the agreed-upon price. If the home appraises lower, this clause gives you the option to renegotiate or cancel the contract. Without it, you may be stuck paying the difference out-of-pocket.

🔹 Financing (Mortgage) Contingency

Life happens job changes, credit issues, or other financial surprises. If you’re unable to secure a mortgage, this contingency protects you from penalties or losing your deposit.