Can you bid on a house that is contingent?

A contingency is a condition that must be satisfied before a party’s duty to perform his side of the contract arises. Often, a buyer will make an offer to purchase a house contingent upon the sale of his property. This means that the buyer does not have to purchase the property until he has sold his own property first.Click to see full answer. Herein, can you put an offer on a house that is contingent?The sellers of a property in “contingent” or “active contingent” status have also accepted an offer to buy the home. But with a contingent listing, the contract is contingent upon the buyer’s ability to sell his existing home, i.e., if the buyer doesn’t sell his home, he is able to back out of the contract.Also, what does contingent mean for real estate? A contingent offer means that an offer on a new home has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. Likewise, people ask, are contingent offers a good idea? Whether or not a seller should accept a contingent offer depends on the facts and circumstances for each transaction. This is good for the buyer and it’s also good for the seller. If you’re a seller, you don’t want to waste precious marketing time with a buyer who cannot qualify for financing.What is difference between pending and contingent?Pending. Contingent means the seller of the home has accepted an offer—one that comes with contingencies, or a condition that must be met for the sale to go through. Contingent—Continue to Show: The seller has accepted an offer which hinges on one or several contingencies.