When Selling a House What Does Contingent Mean?
Published 2024-07-04
Imagine you're at a wedding – everything's perfect, the bride and groom are all set to say 'I do,' but then the officiant says, 'This wedding is contingent on Uncle Bob not objecting during the vows.' Yep, contingent means there’s a condition that needs to be met before everything can go through. No Uncle Bobs allowed!
In real estate, when a house is marked 'contingent,' it means the seller has accepted an offer, but there are still a few hoops to jump through. In most cases the buyer needs to sell their current home first.
So, what does this mean for you? If you're a buyer, you can still look at contingent houses and even write an offer. The listing agent would let the first buyer know there is another offer and ask them if they want to remove the contingency. If they remove it, you are out; however, if they choose not to remove it, you are IN! Keep in mind, you're on standby – like waiting for your favorite band to go on stage, but they’re still tuning their guitars.
For sellers, it’s like having a birthday cake ready but waiting for your friends to show up – it’s not a done deal until everyone’s there.
Timing is everything in real estate. So, next time you see 'contingent' on a listing, remember: it’s a green light, not a red one. And don’t worry, your friendly neighborhood realtor is here to guide you through every twist and turn.
That’s it for today’s Real Estate in Black and White! Remember, whether it’s contingent, pending, or a full-blown celebration, I’ve got your back. Happy house hunting, everyone!
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Thank you for watching! 😍🥰
Have an amazing day,
Your Real Estate Consultant, Sheila Ochsner
Contact info:
Sheila Ochsner
License: 686118
Email: [email protected]
Text/Call: 281-995-0434
Website: sheilaochsner.com
Designations:
SRS - Seller Representative Specialist
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MRP - Military Relocation Specialist
AWREP - American Warrior Real Estate Professional
All Comments (2)
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