Remove Backup offer Remove Loans Remove New Construction
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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. Financing contingency Sometimes called a mortgage contingency , this specifies that the deal hinges on the buyer securing their loan. Quite simply, life happens.

MLS 105
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What Is a Bumpable Buyer? How Bumpable Offers Impact Your House Hunting

Redfin

This allows them to keep showing the home and accept backup offers. If a stronger offer comes in, the seller can ask the original buyer to either remove their contingency or step aside — effectively “bumping” them out of the contract. A home with a bumpable offer is still active, and the seller can accept a stronger offer.