WebAug 20, 2024 · If a property is “pending,” it’s either because there were no contingencies ever inked into the contract, or that all the contingencies have been satisfied, says real estate agent Jim Griffin, a single-family home expert serving Greeneville and Johnson City, Tennessee. In other words, “pending” is the next step after “contingent.”. WebMay 20, 2024 · Here’s an example of a real estate contingency: A buyer offers to purchase a home for $400,000, making an $80,000 down payment. They include an appraisal contingency, stating that the house must ...

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WebAug 15, 2024 · By definition, a contingency is a provision for an unforeseen future event or circumstance. In a real estate transaction, contingencies are covered by a variety of written clauses in the contract … WebApr 21, 2024 · A contingent offer on a home includes a clause that protects the buyer and makes it easier to back out of the deal without financial penalty in certain circumstances. Depending on the type of contingency … eat to not die

What Is a Contingency in a Real Estate Contract? - The Balance

WebMar 31, 2024 · A property listed as contingent means the seller has accepted an offer, but they’ve chosen to keep the listing active in case certain contingencies aren’t met by the … WebOnce all of the contingencies have been removed and the active contingent stage is completed, the property will show a “ pending ” status. This means the closing is not far away. At this point ... WebA contingent status on a property means that a homeowner has accepted an offer from a buyer who comes with some contingencies. Contingencies are conditions that either the buyer or the seller must meet for the sale to go through as expected; this can be any sort of conditions that are seen fit, set up to protect both parties. For example, a ... company alliances