Point2Homes

DECEMBER 8, 2020

When searching for the ideal home, expect to encounter a few issues along the way, such as homes listed as contingent. But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. How is Contingent Different from Pending?

Purchase and sale agreement 145

Purchase and sale agreement Backup offer Home sale contingency Short sale 145

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two. The appraisal is lower than the purchase price. Closing on a house seems pretty straightforward. Easy, right?

Closing 109

Closing Purchase and sale agreement Title search Earnest money deposit 109

HomeLight

JANUARY 13, 2022

You’re getting ready to call your agent to schedule a showing when you notice that the listing says the property is “active contingent.”. What on earth does active contingent mean? In this guide, we’ll take the term “active contingent listing” and break down what it means. Many offers contain contingencies.

Backup offer 73

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 73

HomeLight

JULY 6, 2023

When your home first hits the market, your listing agent will note that it’s “Active,” as in ready and available for showings — but there’s a lot of ground to cover before your agent lists the status as “Closed,” when you have a done deal and you’re ready to hand over the keys. Learn More Contingent or pending, you’re under contract!

MLS 89

MLS Backup offer Inspection contingency Purchase and sale agreement 89

HomeLight

JULY 29, 2022

You can avoid getting into this situation by avoiding making other big purchases or applying for other loans once you are approved for a mortgage and under contract. First, when deciding to purchase a home, you’ll naturally try to make sure you’re at a stable point in your career. Problem: You lost your job.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104