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What Does Contingent Mean in Real Estate?

HomeLight

JUNE 9, 2023

A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. It’s also true that most real estate contracts, even those with contingencies, end up closing. Purchase mortgages today are taking over 40 days to close on average.

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What Buyers Can Do in an Extreme Sellers’ Market

Realty Biz

MAY 24, 2021

Learn the number of new listings that have come on the market in the past month or six weeks. Learn the number of days these houses have been staying on the market before an offer is made. This is called days on market or DOM. Even if you are outbid, make your best offer a backup offer.

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