What Does Contingent Mean When Buying A Home at Buying

What Does Contingent Mean When Buying A Home. In real estate, contingent means an offer has been accepted on a home, but before the sale can go through, certain criteria (specified in the contract) need to be met. It means that an offer has been accepted to purchase the home, but the purchase is dependent or contingent on the sale of the buyer’s current home.

“contingent” or “pending” status means that the home’s owner has accepted an offer from a prospective buyer and that the offer comes with contingencies. When a property is marked as contingent, an offer has been accepted by the seller. What does contingent mean in real estate?

What Does Mean House Under Contract What Does Meaning

You may see a home listed as being both a contingent sale and under contract. A contingent house listing means there is an accepted offer on the house, but specific criteria must be met before the sale can become final.if the house is. This is true of the words contingent or contingency — terms that apply to a number of aspects of the real estate. A contingency period gives a buyer a certain amount of time to satisfy certain contingencies.