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

HomeLight

JULY 6, 2023

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?

MLS 96
MLS Backup offer Inspection contingency Purchase and sale agreement 96
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A Seller’s Home Appraisal Checklist: A Cheat Sheet for Your Home’s Final Exam

HomeLight

DECEMBER 30, 2021

Another issue may be that a comparable property the appraiser used turned out to be a distressed property, foreclosure, or short sale. Again, your agent can research why that price was much lower and provide supporting data, including some comps or multiple offers that reflect a normal or high market value.

Loans 117
Loans Agents Inspection Closing 117
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