When you buy a home, you will be expected to pay an earnest money deposit, and if something goes wrong, you could lose this cash. Contingencies in real estate are a way for buyers to protect their earnest money when making an offer.

Though many contingencies can be added to the purchase contract, it isn't always a good idea to include every useful contingency. Though they could save you thousands of dollars, there are other things you need to consider.

And when you are buying a home, you might feel pressure to waive some or all of the contingencies, but that could be a mistake as well.

We look at the common home buyer contingencies that you need to know about. These contingencies could be vital in preventing you from losing money when you make an offer on a home.