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Contingent vs. Under Contract: What Do These Terms Mean?

Marco Santarelli

When a buyer submits an offer to purchase a property, and the seller accepts that offer, the property is considered “under contract.” This could be related to financing, inspection reports, or other factors that need to be addressed before the deal can proceed. What Does “Under Contract” Mean?

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Real Estate Terminology: Contingent, Pending, Under Contract, and More

Windemere Selling

The following information is meant to clarify some common real estate terms that describe a home for sale and its position in the closing process. And for buyers, it helps to be familiar with these terms when searching for your next home and how they factor into making an offer. Image Source: Getty Images – Image Credit: xavierarnau.

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What Happens After Making an Offer on a House?

Windemere Buying

However, celebrating at this stage in the buying process could leave you heartbroken if your offer isn’t accepted. So, what happens after you make an offer on a house? Revealing what goes on behind the curtain in this critical stage of the buying process will help you understand what to expect next.

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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

” What do they mean and how will they affect your home sale? Despite this, there can still be room to negotiate the conditions of the sale. The contingent label in a listing indicates that the seller has accepted the offer; however, certain things need to happen before things can move on. Contingent Meaning.

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Real Estate Pending Vs. Contingent: MLS Lingo Explained for Sellers

HomeLight

In the meantime, with a “Contingent” status, the seller is typically allowed to continue showing the home and accept backup offers in the event something goes awry. So what are the contract stipulations that put a listing into that “Contingent” stage, and how common is it for a property to hang in closing limbo?

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Can a Seller Back Out of a Real Estate Contract Without Repercussions?

HomeLight

Unlike taking your house off the market , withdrawing from a purchase contract can cost you big time. In this blog, we explain under what circumstances a seller may cancel a home purchase agreement. Why might a seller want to back out of a home sale? But are you stuck? Not necessarily. Change in circumstances.

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Agent, Realtor, Broker: What Do You Call a Person Who Sells Houses?

HomeLight

In this article, we explain the roles agents play in your home sale or purchase, their required level of experience, and the services they provide in your home sale or purchase. The buyer’s agent helps a buyer locate and purchase a home, negotiating the best deal for their client. Don’t break the law. Find Agent.