Depending on certain circumstances.
People also ask
What does ontingent status?mean in real estate?
That doesn mean that it a done deal by any means, however (more on that next). A contingent status means that the seller has accepted an offer and the home is under contract. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the deal can close.
What does it mean when a house is for sale contingency?
Bottom Line: A home that for sale is labeled ontingent?when an offer has been accepted, but there are still some conditions to be satisfied before the sale goes through. Contingencies exist in most sales contracts for the protection of the buyer; if they檙e not met, the deal may fall through and the house may end up back on the market.
Can you make an offer on a house that is contingent?
Can you make an offer on a contingent listing? There are no rules against buyers making an offer on a contingent listing. If you檙e up for a waiting game, go for it. But the sellers might not consider the offer, depending on what the sellers (and their real estate agent) have promised the other potential buyer.
What does’contingency’mean in a real estate listing?
So when contingency appears in the listing itself, it means the sellers have already accepted an offer on the property (at least regarding price), but there are still steps to clear before the contract goes fully pending in the system, says Stephanie Crawford, a Realtor in Nashville, TN. Discover a Home You Will Love! home in your area.