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People also ask
What does ontingent?mean when buying a house?
ontingent?in any sense means epending on certain circumstances.?In real estate, when a house is listed as contingent, it means that an offer has been made and accepted, but before the deal is complete, some additional criteria must be met.
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.
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 is a contingency in a short sale?
If it a real estate short sale, meaning the lender must accept a lesser amount than the mortgage on the home, a contingency could mean that the buyer and seller are waiting for approval of the price and sale terms from the investor or lender.