Contingencies are "escape hatches" that allow you to back out of the contract without legal or financial penalty if certain conditions aren't met:
The target date for the final transfer and who is responsible for specific closing costs . home buying purchase contract
Ensures the home is worth at least the agreed-upon price; if the appraisal comes in low, the buyer can walk away. Preparation and Costs Contingencies are "escape hatches" that allow you to