NCJAR News
You’ve made an offer on a home—or you’re selling your home and have received a contract offer. Regardless of which side of the transaction you’re on, it’s essential to understand contingencies—the conditions that must be met before the sale is finalized.
What Is a Contingency?
In a real estate contract, a clause outlines the rights and obligations of each party. A contingency, on the other hand, is a specific condition that must be fulfilled for the contract to move forward. Both buyers and sellers must agree to and sign off on any contingencies before they are legally binding.
Because these terms can affect your rights and responsibilities, it’s always wise to have a real estate attorney review your contract before you sign.
Common Contingencies and Clauses in Real Estate Contracts
While every transaction is unique, here are some of the most common contingencies and clauses you may encounter:
Financing Contingency
Allows buyers a set period of time to secure a mortgage loan. If financing falls through, this clause helps protect the buyer’s earnest money deposit.
Appraisal Contingency
We’re pleased to announce that the Consumer Information Statement and the Seller’s Property Condition Disclosure Statement are now available in Spanish on zipForm. These translated forms are provided as a member benefit for informational purposes only, helping you better serve your clients and enhance accessibility in real estate transactions.
New Jersey Global Real Estate Summit 2025: Connecting Leaders, Shaping the Future
The New Jersey Global Real Estate Summit 2025, hosted by Tangent Ventures International Realty Corporation, is set to take place on Saturday, November 8, from 1 PM to 6 PM EST at the Holiday Inn, 4701 Stelton Road.
This premier event brings together real estate professionals, investors, and thought leaders from across the region for a day of learning, collaboration, and inspiration. In cooperation with the Asian Real Estate Association of America (AREAA) Central Jersey Chapter, the summit aims to promote diverse perspectives and global connections in the real estate industry.
Morristown, NJ – November 19, 2025 | 9:00 AM – 12:00 PM
910 Mt. Kemble Avenue, Morristown
This Thanksgiving season, North Central Jersey Association of REALTORS® (NCJAR) is once again giving back to the community through our annual Turkey Drive and Food Collection event. Join us on Wednesday, November 19, 2025, between 9:00 AM and 12:00 PM (no exceptions), as we gather essential food donations to support local food pantries and families in need across our region.
After speaking directly with our partner pantries, we’ve learned that there is a critical demand for specific food and household items. To ensure that your contribution has the greatest possible impact, we ask that you bring only the items listed below.
