what does contingent mean on realtor

When a property is marked as contingent an offer has been accepted by the seller. What does contingent mean in real estate.

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Does active paired with contingent mean that the property can still be yours if.

. Weve looked at the two main statuses but it is important to note that there is a difference between active contingent and. Contingent or pending status means that the homes owner has accepted an offer from a prospective buyer and that the offer comes with contingencies. If a property is pending the provisions on a contingent property were successfully met and the sale is being processed. What does active contingent mean in real estate.

What Does Contingent Mean in Realtor Listings. What Does Contingent Mean In Real Estate. If its a real estate short sale meaning the lender must accept a lesser amount than the mortgage on the home a contingency could mean that the buyer and seller are waiting for approval of the. For instance if a seller offers a certain price.

Contingent meaning In real estate contingent indicates a seller has accepted a buyers offer on their house but the offer includes certain criteria called contingencies that must be met before the sale can be finalized. What does active contingent mean in real estate. 2 minute read Additionally when contingency shows up inside an agent listing it means a buyer has already accepted an offer on the property and not by pricing so the listing agent needs to decide what steps to take to close the sale Stephanie Crawford a realtor in Nashville Tennessee. What Does Contingent Mean in Real Estate.

How Do You Beat A Contingent Offer. What Does Contingent Mean in Real Estate Contracts. There has been a successful conclusion in the execution of a contingent property agreement and the sale has taken place. In real estate when a house is listed as contingent it means that an offer has been made and accepted but before the deal is complete some additional criteria must be met.

There was a successful completion of the contractual requirements of the contingent property and the sale transaction is underway. Sale Pending in Real Estate Listings. 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. Getting your home inspected at a quick point can demonstrate whether youre serious about purchasing the property.

The listing changes from active contingent to sale pending when the offer has been accepted and all of the criteria have been addressed. In a real estate listing it would not be unusual to see a listing status you are unfamiliar with. Contingencies are conditions that either the buyer or seller or both must meet for the sale to go through. But the sale is subject to or conditioned upon.

In order for a transaction to be contingent an offer is made on a real estate purchase and the seller accepts or approves it as soon as possible. Contingent in any sense means depending on certain circumstances. A home buyer or seller quite often will have no idea of the meaning of contingent. This is a word that homebuyers and real estate professionals alike should know and understand.

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Weve looked at the two main statuses but it is important to note that there is a difference between active contingent and sale pending. It means that the seller accepted a contract to buy after which an offer was made and the seller was free to sell pending certain terms. Contingencies are special conditions or requirements set by. A contingent listing simply means the seller has accepted an offer but he or she does have the decision to keep the listing ongoing if that buyer doesnt meet all the conditions.

Houses 7 days ago Active Contingent vs. By the book the word contingent means for a result to be dependent upon specific circumstances. Basically what the word contingent or a contingency means is. Without further ado lets jump in.

What Does Status Contingent Mean. Contingent deals are still active listings because they are liable to fall out of contract if requested provisions are not met. It means that there is a bid on the house so if the deal that is already on the table does not materialize the owner is also willing to present the property and may consider deals as a contingency contingent real estate offer. A contingent status means a real estate listing indicating that the seller has accepted an offer but that there are contingencies that prevent the sale from being final.

If all goes well contingent deals will advance to a pending state. A contingent status means that the seller has accepted an offer and the home is under contract. A property listed as contingent means the seller has accepted an offer but theyve chosen to keep the listing active in case certain contingencies arent met by the prospective buyer. What Does Contingent Mean On Realtor Listing.

What does contingent mean in real estate is a common question from buyers and sellers. For houses that have been listed as contingent it means the seller has accepted the potential buyers offers but they also chose to keep the listing active in case there will be some problems. In an ongoing case the residences owner accepts a proposed buy-out from another individual and that the offer contains contingencies that must be disclosed. See an explanation of the meaning of contingent.

So in real estate when a property or contract is contingent that means the seller has accepted an offer but the buyers offer is dependent upon a certain thing. What does contingent mean and is the real estate still up for grabs.

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