Offer Contingencies, Earnest Money and Withdrawal

Start with the signed document

Contingencies, earnest money and withdrawal rights are controlled by the actual contract, addenda and deadlines, not a generic online description. Before signing, ask the appropriate Tennessee-licensed professionals to identify the inspection, financing, appraisal, title, sale-of-other-property or other contingencies proposed for this transaction. Write each trigger, required notice, receiving party and deadline in one calendar. This page intentionally does not state a universal Tennessee withdrawal rule.

• Use the exact contract version proposed for the home.
• Record business-day versus calendar-day language.
• Confirm how notices must be delivered and acknowledged.

Connect protection to evidence

A contingency is useful only if the buyer knows what evidence is needed before the deadline. For example, an inspection question might require a report and a contractor opinion; a loan question might require a lender response; a flood question might require a map review and insurance quote. Do not make a decision based on an unverified conversation or a portal label. Keep the contract timeline visible while specialists do their work.

• Assign an owner and a due date to every unanswered question.
• Save delivery receipts and written responses.
• Ask whether a requested extension changes any rights or obligations.

Use qualified transaction advice

A Tennessee real-estate licensee can explain the representation and transaction role; an attorney can advise on legal meaning and consequences. The Tennessee Real Estate Commission is the state regulator entry point for license and consumer information. This educational page is not a contract interpretation or legal advice.