The California Association of Realtors (C.A.R.) residential purchase contract (RPA) has three standard contingencies built into the contract - Loan Contingency, Appraisal and Buyer's Inspections.  Most of the problems that come up in a real estate transaction fall under these 3 contingencies. If the contract is left unchanged, the period of these three contingencies is 17 days after the deal is struck. As stated in the contract, the removal of these contingencies must be in writing with the C.A.R. form CR … [Read more...]