Pursuant to the RPA, the buyer’s obligation to purchase the property is contingent upon certain conditions being met, such as the buyer’s approval of the physical condition of the property, of the buyer obtaining a loan or the property appraising at the purchase price. As long as the contingency is in effect, the buyer has the potential to cancel the contract without penalty. Accordingly, it is important to both buyer and seller to know if any contingency remains in effect or has been removed. Removal of contingencies does not happen automatically but must be in writing in order to be effective.