How contingencies work

[Michael Cote]

If you have a contingency in your purchase contract that allows you to back out if you can’t get financing, can you just use that as an excuse to back out even if that’s bot really the reason you’re backing out? So you just found another property that you’re more interested in...how would they know if you’re telling the truth or not about failing to get financing?

[John Underwood]

I would use the inspection contingency.  That will allow you to back out during inspection time for any reason without having to give a reason or prove anything.