If you’re buying or selling a home in Tampa, you’ve probably heard the word “contingencies” tossed around in conversations with your agent. And if we’re being honest, it can sound a little intimidating.
We’re Emeri and Joe Lewkowicz, and after more than 40 years combined in Tampa Bay real estate, we can tell you this: contingencies aren’t something to fear. They’re simply guardrails. When structured properly, they protect buyers, keep sellers informed, and help everyone move toward a smooth closing.
Let’s break down the three most important contingencies you’ll see in Tampa real estate contracts: financing, appraisal, and inspection.
1. Financing Contingency: Protecting the Buyer’s Loan Approval
The financing contingency gives the buyer time to secure their mortgage loan. In Tampa, most buyers are financing their purchase, whether through conventional, FHA, or VA loans. This contingency states that if the buyer is unable to obtain financing within a specified timeframe, they can cancel the contract without losing their earnest money.
From our experience, this contingency isn’t just a formality — it’s about preparation. In competitive Tampa neighborhoods like South Tampa, Wesley Chapel, or St. Petersburg, sellers often prefer buyers who are fully underwritten or at least strongly pre-approved. That’s why we work closely with trusted local lenders who understand our market’s pace and pricing.
For sellers, the key is evaluating the strength of the buyer’s financing upfront. We don’t just look at the offer price — we look at the full picture: down payment, lender reputation, and timelines.
A well-structured financing contingency keeps the deal secure without dragging out uncertainty.
2. Appraisal Contingency: Making Sure the Value Matches the Price
The appraisal contingency protects the buyer (and the lender) in case the home appraises for less than the agreed purchase price.
In a fast-moving Tampa market — especially during strong appreciation cycles — we’ve seen situations where multiple offers push prices above recent comparable sales. When that happens, the appraisal becomes critical.
If a home appraises low, there are typically three options:
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The seller lowers the price.
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The buyer brings additional cash to cover the gap.
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The parties negotiate a compromise.
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Or, if no agreement is reached, the buyer may cancel within the contingency period.
With decades of experience in Tampa Bay, we’re very strategic about pricing homes and advising buyers on offer amounts. We study hyper-local data — down to specific streets and school zones — to minimize appraisal surprises.
For investors especially, understanding appraisal risk is crucial. It impacts your loan-to-value ratio and overall return.
When handled proactively, appraisal contingencies rarely derail a transaction. Preparation and accurate pricing make all the difference.
3. Inspection Contingency: Understanding the Property’s Condition
The inspection contingency is where buyers conduct professional inspections — typically within 7 to 15 days in Tampa contracts.
Florida homes come with unique considerations: roofs under intense sun exposure, HVAC systems working year-round, moisture intrusion, older plumbing in historic neighborhoods, or even four-point inspections required for insurance.
This is where local knowledge truly matters.
We help buyers interpret inspection reports realistically. No home is perfect — especially in established Tampa neighborhoods like Seminole Heights or Palma Ceia. The goal isn’t to find a flawless house. It’s to understand major systems, safety concerns, and future maintenance costs.
If significant issues arise, buyers can:
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Request repairs,
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Ask for a credit,
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Renegotiate the price,
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Or cancel within the contingency period.
For sellers, we often recommend pre-listing inspections in certain situations. Being proactive can prevent last-minute renegotiations and protect your leverage.
How We Guide You Through It
Contingencies aren’t “escape clauses.” They’re structured timelines with specific obligations. Missing a deadline can mean losing your deposit or your negotiating power.
That’s why having experienced guidance matters.
With over 40 years combined in Tampa real estate, we don’t just write contracts — we manage risk. We track every deadline, communicate clearly with lenders and inspectors, and anticipate issues before they become problems.
In today’s Tampa market, the strongest offers aren’t always the highest ones. They’re the cleanest, most confident, and strategically structured.
Whether you’re a first-time buyer in Riverview, an investor in Clearwater, or selling your family home in South Tampa, understanding contingencies gives you confidence and control.
And that’s exactly what we’re here for.
If you’re thinking about buying or selling in Tampa Bay, let’s talk. We’ll walk you through every step — clearly, strategically, and with your best interest at heart.
