What Is a Contingency in Real Estate? (A West Seattle Buyer’s Guide)

If you’re buying or selling a home in West Seattle, chances are you’ve heard the term contingency come up early in the process. While it may sound technical, contingencies are actually one of the most important parts of a real estate contract — especially in the West Seattle real estate market, where homes can move quickly.

Simply put, a contingency is a condition that must be met for a home sale to move forward. If that condition isn’t satisfied, the buyer or seller may be able to renegotiate or walk away from the contract without penalty.

Why Contingencies Matter in West Seattle

Real Estate Contingencies protect both buyers and sellers by setting clear expectations. For buyers in West Seattle, they provide time to confirm financing, inspections, and value. For sellers, they outline exactly what needs to happen before closing. In a competitive market like West Seattle, understanding contingencies helps you make smarter, more confident decisions — whether you’re buying your first condo in the Junction or selling a single-family home in Admiral.

Common Real Estate Contingencies

Inspection Contingency

Allows the buyer to inspect the home and negotiate repairs, credits, or cancel if major issues are found.

Financing Contingency

Protects the buyer if they’re unable to secure a mortgage, which is especially important as interest rates fluctuate.

Appraisal Contingency

Applies if the home appraises for less than the purchase price, giving buyers options to renegotiate or walk away.

Home Sale Contingency

Some buyers need to sell their current home before buying another. While less common in fast-moving West Seattle neighborhoods, it can still appear in certain transactions.

Can You Waive Contingencies in West Seattle?

In competitive situations, buyers may waive one or more contingencies to strengthen their offer. While this can help win a home, it also increases risk. In the West Seattle real estate market, deciding what to waive (if anything) should always be done with guidance from an experienced local agent.

Bottom Line

Contingencies are a normal and important part of buying or selling a home in West Seattle. They exist to protect everyone involved and help transactions move forward smoothly. If you’re navigating a purchase or sale and want advice tailored to West Seattle real estate, working with a knowledgeable local agent can make all the difference.