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People also ask
What does contingent mean when buying a house?
Contingent, broadly speaking, means that the owner of the property has accepted an offer but the deal has yet to be fully finalized. This may be displayed on a real estate website with a label saying ontingent?or ontingent: continue to show?
What is a contingent show in real estate?
The first one is known as ontingent show.?This means that there is a contract on the property, but the owner is still willing to show the property and will accept offers as back-up offers in the case the offer that is currently on the table fall through.
What does contingent with kick out mean in real estate?
The last of the contingent clauses is known as ontingent with kick-out.?This is a common phrase to put into a contract. It means that if there is currently an offer on the property, but a better offer comes along, the seller has the option to accept the better offer.
What are the different types of contingencies in real estate?
There are a few types of contingencies in real estate, including: A financing contingency, also known as a loan contingency, means that if the buyer has trouble getting a mortgage for the home purchase, they can drop out of the contract with no penalty.