Contingencies give you the flexibility to negotiate price and terms with the seller, but not be obligated to proceed with the sale unless certain things happen to your satisfaction.

For example, most offers are contingent upon financial review. If your review of the financial records turned up something you didn't like, you would not remove the contingency. Therefore, you would not be obliged to proceed with the sale.

If you choose not to remove a contingency, you have complete freedom to:

1. Make a different offer on the same business.

2. Make an offer on a different business.

3. Cancel the offer.