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An inspection contingency is an addendum to a contract that gives buyers the right to have a professional house inspector or other third party examine the property within a certain period of time after the agreement to purchase has been signed.
A construction contingency, depending on whose perspective you view it from, could be an excuse for poor estimating when added by a contractor. If a contingency or percentage of the construction cost is added as a safety net, then that contractor need not be as thorough in his cost estimating. construction contingency, depending on whose perspective you view it from, could be an excuse for poor estimating when added by a contractor. If a contingency or percentage of the construction cost is added as a safety net, then that contractor need not be as thorough in his cost estimating.