Can you make an offer on a house that is contingent?
The sellers of a property in “contingent” or “active contingent” status have also accepted an offer to buy the home.
But with a contingent listing, the contract is contingent upon the buyer’s ability to sell his existing home, i.e., if the buyer doesn’t sell his home, he is able to back out of the contract.
What does it mean when a property is contingent?
What is a contingent offer in real estate? A contingent offer means that an offer on a new home has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met.
What is difference between pending and contingent?
Pending. Contingent means the seller of the home has accepted an offer—one that comes with contingencies, or a condition that must be met for the sale to go through. Contingent—Continue to Show: The seller has accepted an offer which hinges on one or several contingencies.
What does the word contingent?
adjective. dependent for existence, occurrence, character, etc., on something not yet certain; conditional (often followed by on or upon): Our plans are contingent on the weather. liable to happen or not; uncertain; possible: They had to plan for contingent expenses.