TLDR: Contingencies are the hurdles you and the buyer have to jump to get to closing. 

Now that you're under contract, contingencies are the biggest obstacles you and the buyer will need to overcome in order to get to closing. You can think of each contingency as a hurdle in an obstacle course to get to closing. Because the timeline for each contingency will be ticking concurrently, it'll be important to keep track of all deadlines.

Click here for a review of contingencies from Step 2. 

Contingencies Overview

Here is a quick overview of some common contingencies:

Fun Fact

While the HOA and Condo clauses of the contract are technically disclosures, they function in much the same way as a contingency since the buyer is legally permitted to excuse him- or herself from the sale within certain time frames.