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In this video, Erica from Gokuche Capital discusses a notable real estate case involving Jeffrey Stambovsky, who discovered his dream home in Nyack, NY, was haunted. She poses the question of whether buyers can back out of a deal when encountering such unexpected issues during due diligence. The key takeaway is that to ensure a deposit refund, it's crucial to include contingencies in the purchase agreement. She explains that contingencies are conditions that must be satisfied for a real estate contract to be binding, highlighting examples like inspection contingencies as one of the most common types. The video aims to inform viewers about these essential aspects of property purchases.
