What is contingent House status?
What is a contingent offer in 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.Click to see full answer. In this regard, can you make an offer…
What is a contingent offer in 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.Click to see full answer. In this regard, can you make an offer on a house that is contingent?When a property is marked as contingent, an offer has been accepted by the seller. Contingent deals are still active listings because they are liable to fall out of contract if requested provisions are not met. If all goes well, contingent deals will advance to a pending state.Furthermore, 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. Similarly, you may ask, what is the difference between under contract and contingent? Contingent. A contingent status means that the seller has accepted an offer and the home is under contract.Can a seller back out of a contingent offer?If the buyer does not remove the contingency, the seller can back out of the contract and sell it to the new buyer.
