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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” ” What do they mean and how will they affect your home sale? Contingent vs. Pending? Not all sales will have contingencies with them, but most will.

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What is a Contingent House Listing?

Point2Homes

A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Contingent Statuses.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

Let’s have a look at the most common types of contingency you are likely to see. Home Inspection Contingency. The purchase of the property can be contingent on the home inspector’s report. If the home requires some repairs, the price can be renegotiated, or the seller can fix the issues.

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How Fast Can I Sell My House? It Can Take 75 Days or 12

HomeLight

The days a home is on market, also called time on the market, means the length of time between the day the home is listed on the local multiple listing services (MLS) and the day the seller accepts an offer and it goes under contract. Most buyers get an inspection, which may initiate repairs or re-negotiations.

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What Is a Home Sale Contingency?

HomeLight

Most often, this type of scenario calls for a home sale contingency. With the help of real estate agent Jesse Allen , a single-family home expert in southern Indiana , we’ll help to explain the ins and outs of home sale contingencies, and offer additional alternatives for buyers who currently own a home.

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How to Sell a House by Owner in Colorado

HomeLight

FSBO sellers in Colorado may consider getting a home inspection prior to listing their home for sale. However, be aware that if you get a pre-listing inspection, you will be required to share relevant findings with buyers and how you did or did not address them. Step 1: Address needed repairs and maintenance.

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How to Sell a House by Owner in Florida (2022 Updates)

HomeLight

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. FSBO sellers in Florida may want to consider getting a home inspection prior to listing their home for sale.