epending on certain circumstances
People also ask
What is a contingent offer in real estate?
So, for example, if a seller offers a certain price and you as the buyer say the price is fine, (provided the home inspection comes back clean), you have made a contingent contract. In this case, the sale of the house depends on the inspection being approved. How Does A Contingent Offer Work?
What is an example of contingency in real estate?
Definition of Contingency. For example, if a buyer submits an offer that includes an inspection contingency, the buyer has a specific period of time during which the buyer can inspect the home and, if it is unsatisfactory, rescind the offer. So long as the buyer complied with the terms of the contingency, she can usually recover her earnest money.
What does ontingent?mean?
Basically, what the word ontingent?or 渁 contingency?means is that there is a condition that is written into the contract. In order for the contract to be legally binding, the listed condition must be met.
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.