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What Does Contingent Mean in Real Estate Sales

Realty Biz

One of the standard contingencies in nearly all real estate contracts is delivering a clear title. A few things that ensure this happening are a title search to ensure there are no liens or other title problems, putting a cloud on the title. In real estate jargon, this is referred to as a “backup offer.”

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10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

The first is the active period, when your home is listed as available for sale in your local MLS. Sale pending is the status in between active and sold, which indicates that you’ve accepted an offer and are in the process of selling, but that the sale is not yet completed. Line up backup offers to hedge your risk.

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