When Buying A House What Does Contingent Mean at Buying

When Buying A House What Does Contingent Mean. What does contingent mean when buying a house and how do contingencies work in the home purchase process? These tell you what stage of the real estate process a property is in.

This means the deal will only pull through if and when the buyer’s home sale closes, thereby putting your home sale in limbo. 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. Your agent will add a contingency clause to the terms of the home offer.

Spencer Real Estate Video Blog with Holly Brink

During the contract process, unforeseen issues with the transfer of title can sometimes be uncovered. 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. When a house for sale has a contingency, either the buyer or the seller (or both parties) must meet certain conditions for the home sale to go through.