GITNUX MARKETDATA REPORT 2024
Purchase Agreement Contingency Statistics
Purchase Agreement Contingency Statistics provide insight into the frequency and impact of various contingencies on real estate transactions.
In this post, we explore the prevalence of various contingencies in real estate purchase agreements. From financing to inspections, these contractual clauses play a crucial role in protecting buyers and sellers throughout the transaction process. Dive into the data and uncover the key statistics shaping the landscape of real estate contracts today.
Statistic 1
"76% of real estate contracts contain at least one contingency."
Statistic 2
"Financing is the most common contingency, which allows buyers to back out if they cannot secure a loan, found in 44% of all contracts."
Statistic 3
"Appraisal contingency is employed in about 19% of real estate contracts, which allows buyers to withdraw if the property is appraised at less than the buying price."
Statistic 4
"The inspection contingency, which lets a buyer arrange for a professional inspection of the property, is spotted in 13% of all contracts."
Statistic 5
"Title contingencies are present in nearly 11% of all purchase agreements."
Statistic 6
"8% of all real estate contracts contain a home sale contingency, which means the purchase depends on the sale of the buyer's current home."
Statistic 7
"Roughly 6% of contracts contain a kick-out clause, which allows the seller to continue marketing the property to other buyers during the contingency period."
Statistic 8
"About 1% of purchase agreements include an environmental contingency that permits the buyer to pull out if environmental hazards are discovered on the property."
