Realtors often assume that consumers have a firm grasp of all the real estate terms we do, but that is rarely the case. A home buyer or seller often will have no idea of the meaning of contingent. It would not be unusual to see a listing status you are unfamiliar with in a listing ...
In the context of contingent vs. pending in real estate, pending means that contingencies have been satisfied, and the deal is expected to close as planned. However, in general terms, pending means “waiting to be settled.” So you might come across someone using the term pending loosely as...
Pending: What This Means in Real Estate A contingent sale means the buyer and seller are waiting for specific conditions to be met before they finalize the sale, while a pending sale has met those conditions and is being processed. By Taylor Getler Updated Jun 30, 2022 Edited by Mary ...
“Contingent” in any sense means “depending on certain circumstances.” In real estate, when a house is listed as contingent, it means that an offer has been made and accepted, but before the deal is complete, some additional criteria must be met. What does it mean when a property is ...
What does contingent mean in real estate? Contingent means the seller has accepted an offer, but certain conditions need to be met before the sale closes. This means there’s still a chance that thesale could fall throughand the house goes back on the market, should those conditions go unme...
Additionally, all parties must have the legal capacity (be of a certain age and have the mental capacity to understand the terms and implications) to enter into a contract. Good faith The parties involved in a contingent contract should act in good faith and not attempt to deceive or manipula...
The buyer chooses what contingencies, or specific terms, they want to include in the offer and may use the help of a real estate professional. Areal estate professional, whether a lawyer or real estate agent, can help you design and execute the overall offer with the contingencies in place....
When filling out numerous bankruptcy forms, you'll need to understand these terms to list and categorize your debts properly. You Must List All Debts or "Claims" in Bankruptcy On your bankruptcy forms, you explain your financial situation to the court, trustee, and creditors. Your disclosures ...
Although real estate contingencies protect your interests, be aware that too many stipulations in the contract can reduce the likelihood of the seller accepting your offer, especially in a tight market. » MORE: Contingent vs. pending: What this means in real estate Types of real estate conting...
A number of contingent questions incorporating an auction bidding mechanism were asked, such as how much they would be willing to pay annually to keep the park in its current condition, and whether they would accept government compensation for the loss of use (utility) of the park. In terms ...