Contingency Considerations for South Jersey Buyers

When buying a home in South Jersey—whether in Camden, Burlington, or Gloucester County—contingencies are one of the most important tools you have to protect yourself. These contractual conditions ensure you can walk away or renegotiate if certain issues arise. But in a competitive market, knowing which contingencies to keep, modify, or waive becomes crucial.

Mary Murphy from The Murphy Group explains:

“Contingencies are your safety net. The key is balancing protection with competitiveness so your offer stands out while still safeguarding your interests.”

Here’s what South Jersey buyers need to know.

1. The Inspection Contingency: Your First Line of Protection

This contingency allows you to inspect the property and negotiate repairs or credits.

Key factors:

• South Jersey’s older homes may reveal roof, HVAC, or foundation concerns
• You can request repairs, credits, or withdraw if issues are major
• Timeframes are typically 7–10 days

Tip: Even when buying “as-is,” still get an inspection for peace of mind.

2. Appraisal Contingency: Critical for Financed Buyers

If you’re using a mortgage, the lender requires the home’s value to match or exceed the purchase price.

What to know:

• If the home appraises low, you can renegotiate
• You may cover a gap if allowed by the contract
• A competitive market may push some buyers to limit or adjust this contingency

South Jersey reality: Appraisal gaps are common in hot neighborhoods like Haddon Township, Collingswood, and Marlton.

3. Financing Contingency: Protection Against Loan Issues

This protects you if financing falls through—even after preapproval.

Benefits:

• Safeguards your deposit
• Provides time to secure final lender approval
• Helps manage unexpected financial changes

Without it, you risk losing your earnest money deposit if financing doesn’t finalize.

4. Home Sale Contingency: Use Carefully in This Market

If you need to sell your home first, this contingency gives you time to do so.

However:

• Many South Jersey sellers avoid offers with this contingency
• You may need pricing or timeline evidence to make your offer stronger
• Consider alternatives like bridge loans or temporary housing

Use this only when necessary—and with strategic guidance.

5. Title Contingency: Ensuring Clear Ownership

This ensures the seller can transfer clean, marketable title.

Typical issues found:

• Old liens
• Unreleased mortgages
• Property line discrepancies

Your title company will review and resolve these before closing.

6. Septic, Well, and Township-Specific Requirements

Many South Jersey towns—especially in Burlington and Gloucester counties—require:

• Septic inspection
• Well testing
• CO/Smoke detector certifications

These can become built-in contingencies depending on the property type.

7. When It Makes Sense to Adjust Contingencies

In competitive situations, some buyers modify contingencies rather than remove them completely.

Options include:

• Shortening inspection periods
• Limiting repair requests to “major defects only”
• Offering a set appraisal gap coverage amount
• Pre-inspecting before submitting an offer

These approaches keep you competitive without sacrificing protection.

Buyer Takeaway

Contingencies help South Jersey buyers:
✅ Protect their finances
✅ Uncover hidden risks
✅ Ensure the home is fairly valued
✅ Maintain flexibility if issues arise

The key is choosing the right combination for your situation and the market you’re buying in.

Planning to Buy in South Jersey?

The Murphy Group helps South Jersey buyers structure strong, protective offers that win—without unnecessary risk.

Start your home-buying strategy at www.mgsells.com

When buying a home in South Jersey—whether in Camden, Burlington, or Gloucester County—contingencies are one of the most important tools you have to protect yourself. These contractual conditions ensure you can walk away or renegotiate if certain issues arise. But in a competitive market, knowing which contingencies to keep, modify, or waive becomes crucial.

“Contingencies are your safety net. The key is balancing protection with competitiveness so your offer stands out while still safeguarding your interests.”

Here’s what South Jersey buyers need to know.

1. Inspection Contingency: Your First Line of Protection

This contingency allows you to inspect the property and negotiate repairs or credits.

• South Jersey’s older homes may reveal roof, HVAC, or foundation concerns
• You can request repairs, credits, or withdraw if issues are major
• Timeframes are typically 7–10 days

Tip: Even when buying “as-is,” still get an inspection for peace of mind.

2. Appraisal Contingency: Critical for Financed Buyers

If you’re using a mortgage, the lender requires the home’s value to match or exceed the purchase price.

• If the home appraises low, you can renegotiate
• You may cover a gap if allowed by the contract
• A competitive market may push some buyers to limit or adjust this contingency

South Jersey reality: Appraisal gaps are common in hot neighborhoods like Haddon Township, Collingswood, and Marlton.

3. Financing Contingency: Protection Against Loan Issues

This protects you if financing falls through—even after preapproval.

• Safeguards your deposit
• Provides time to secure final lender approval
• Helps manage unexpected financial changes

Without it, you risk losing your earnest money deposit if financing doesn’t finalize.

4. Home Sale Contingency: Use Carefully in This Market

If you need to sell your home first, this contingency gives you time to do so.

• Many South Jersey sellers avoid offers with this contingency
• You may need pricing or timeline evidence to make your offer stronger
• Consider alternatives like bridge loans or temporary housing

Use this only when necessary—and with strategic guidance.

5. Title Contingency: Ensuring Clear Ownership

This ensures the seller can transfer clean, marketable title.

• Old liens
• Unreleased mortgages
• Property line discrepancies

Your title company will review and resolve these before closing.

6. Septic, Well, and Township-Specific Requirements

Many South Jersey towns—especially in Burlington and Gloucester counties—require:

• Septic inspection
• Well testing
• CO/Smoke detector certifications

7. When It Makes Sense to Adjust Contingencies

In competitive situations, some buyers modify contingencies rather than remove them completely.

• Shortening inspection periods
• Limiting repair requests to “major defects only”
• Offering a set appraisal gap coverage amount
• Pre-inspecting before submitting an offer

These approaches keep you competitive without sacrificing protection.

Buyer Takeaway

Contingencies help South Jersey buyers:

• ✅ Protect their finances
• ✅ Uncover hidden risks
• ✅ Ensure the home is fairly valued
• ✅ Maintain flexibility if issues arise

Planning to Buy in South Jersey?

The Murphy Group helps South Jersey buyers structure strong, protective offers that win—without unnecessary risk.

Start your home-buying strategy at www.mgsells.com