Realty Biz

NOVEMBER 11, 2020

Let’s take a closer look at the meaning of contingent , so you can see how it might affect a home you are looking to buy. How your real estate agent markets your property when an offer has been accepted can have vital implications. For example, some agents will mark your home contingent, while others will mark pending.

Backup offer

HomeLight

NOVEMBER 8, 2024

A home is marked as pending once an offer is accepted and both parties have agreed to the sale’s terms. This can mean that the buyer’s financing is approved, the inspection contingency is met, or any appraisal concerns are resolved. More on contingencies in a minute.) Why might a pending house come back on the market?

Inspection contingency

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. Not all sales will have contingencies with them, but most will. Common real estate contingencies include the following: Inspection Contingencies.

Purchase and sale agreement

HomeLight

DECEMBER 31, 2020

Real estate agents keep an eye on sales pending properties because there are a number of ways that the deal could fall through and the house could come back on the market. Things that could derail a sale during the sale pending period include: The home inspection. Line up backup offers to hedge your risk.

Closing

HomeLight

JANUARY 5, 2022

Unlike taking your house off the market , withdrawing from a purchase contract can cost you big time. In a housing shortage, the market is ripe with bidding wars. It’s not unheard of for sellers to receive higher offers after signing a purchase agreement and want to back out of the contract. But are you stuck? Not necessarily.

Purchase and sale agreement

Realty Biz

JULY 25, 2023

Once a property under contract has met all contingencies associated with that contract, there are no obvious circumstances that will prevent the sale from going through. At this point, the property is typically removed from the market and is unavailable for other showings.

Sales

HomeLight

MARCH 20, 2023

Other common contingency clauses include: Inspection Contingency: If the buyer finds fault with the home inspection report, they can ask for the seller to make repairs, or they can cancel the contract within the contingency period. Their home may be on the market, but they do not have buyers. Money talks!

Home sale contingency

Windemere Buying

JUNE 22, 2022

It means the seller has accepted an offer and there’s a good chance the deal will go through, but because the sale is not yet final, the property is technically not off the table. Other interested buyers will make backup offers in case the first offer falls through.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Today, we want to solely focus on what it means when a property is marked with a “contingent” indicator so that you can understand the real estate market much better in the future. When buying or selling a home, there are some typical real estate contingencies that you should be familiar with.

Purchase and sale agreement