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Why are contingencies necessary?

Just like an emergency plan, a contingency plan is extremely useful if something goes wrong. By identifying potential problems, you'll be able to take action to prevent them from happening. A plan will also give clear instructions on what to do if an incident does take place.

How do you know if you have a contingency?

Contingency- A sentence is called a contingency if its truth table contains at least one 'T' and at least one 'F. '

What is a settlement contingency?

A sale and settlement contingency states that the potential buyer is trying to sell their current home but has not yet received an offer. A settlement contingency states that the buyer has an offer on their home or has a contract in hand, but the closing has not yet taken place.

What is an SSP in real estate?

Self Sufficiency Program: The Path to HomeOwnership NeighborWorks Housing Solutions' Self-Sufficiency Program (SSP) assists MRVP recipients achieve their employment and economic goals. Ideal for people with big dreams, this 3-year program supports you in finding the resources that make those dreams a reality.

What are examples of contingencies?

What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic. In 2020, businesses were hit with the coronavirus pandemic forcing many employees to have to work remotely.

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