What does active w contingency mean?

When a home is listed as “Active with Contingencies” or “Active Contingent,” the seller has accepted an offer from a buyer, but the buyer must meet certain conditions (or contingencies) before the sale can be finalized. These conditions may include a home inspection or getting approved for a mortgage loan.

View more on it here. Similarly, can you make an offer on a house that is active 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 is the difference between contingent and pending in real estate? When a property is marked as contingent, an offer has been accepted by the seller. Contingent deals are still active listings because they are liable to fall out of contract if requested provisions are not met. If all goes well, contingent deals will advance to a pending state.

Also Know, what is active contingency?

Definition of Active Contingent When a home is listed as “Active Contingent” or “Active with Contingencies,” it means the seller has accepted an offer from a buyer and a Purchase and Sale Agreement exists, but that certain conditions (or contingencies) must be satisfied before the sale can be finalized.

How do you bump a contingent offer?

If the seller receives a subsequent offer satisfactory to the seller that does not contain the same condition or contingency, the seller can “bump” the first offer, requiring the first buyer to waive the condition or contingency or allow the seller to accept the subsequent offer.

Can a seller back out of a contingent offer?

A seller has no contractual right to back out during a buyer’s contingency unless the contingency terms have triggered that choice. All contract language should be prepared by attorneys either as standard contract forms or attorney prepared addendums if standard addendums are not available.

Can a Realtor lie about multiple offers?

As everyone else has said, yes they can lie about other offers but if you have an escalation clause that is being used, they need to present the other offer if requested.

How long is a contingency period on a house?

between 30 and 60 days

What is pending vs 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. For example, the home might have to pass inspection, the buyer needs to secure financing or a number of other possible contingencies.

Can you still look at a house if it is contingent?

Contingent” is one of those real estate terms you may see quite often when looking to purchase a home. If the inspection uncovers issues with the home that were not disclosed prior to the agreement being struck, the buyer and seller revisit the agreement and try to work out a solution.

What does this home is contingent mean?

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.

Can a realtor show a house that is contingent?

A real estate agent is not only allowed to continue showing a home that’s already under contract, he’s encouraged to do so in the best interest of his client. Likewise, homebuyers are also encouraged to view homes that are under contract, or pending, as the status is often referred to on multiple-listing services.

What is the difference between active contingent and 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 is the difference between active option and active contingent?

When a house is listed active contingent status, it means a buyer has made an offer that the seller has accepted, but the buyer must sell their home before they can purchase the property.

What does active option mean?

Active Option Contract” means a seller has accepted an offer to sell a home, but the transaction is in the inspection or “option” period. The option fee cannot be recovered by the buyer if they back out of the sale, even if it’s for a reason covered by a contingency in the contract.

What does it mean when a house for sale is under contract?

An active listing means the house is on the market and available for purchase. A pending sale is one that’s moving toward closing. An “under contract” status means there’s an accepted offer on the house, but the sale is still in an early, and perhaps precarious, stage.

What does a contingent status mean?

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.

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