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What Does Contingent Mean in Real Estate Sales

Realty Biz

NOVEMBER 11, 2020

They will also get their earnest money deposit back , and the home will go back on the market. Most of the time, when a home is at the contingent stage, sellers are still interested in offers from other parties. In real estate jargon, this is referred to as a “backup offer.”

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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

MAY 19, 2021

The contingent status typically allows the home to be shown to other possible buyers, allowing backup offers to be made. Doing so could mean the forfeiture of their earnest money deposit. Lenders aren’t going to provide money for a property that the buyer’s offer has overvalued.

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