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. Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but...
The term “contingent” refers to a specific condition or requirement that must be met for a sale or purchase agreement to be fully executed. Understandingwhat contingent meansin real estate is vital for buyers and sellers alike. These contingencies are typically outlined in the contract and protec...
So when "contingency" appears in the listing itself, "it means the sellers have already accepted an offer on the property (at least regarding price), but there are still steps to clear before the contract goes fully pending in the system," saysStephanie Crawford, a Realtor® in Nashville,...
In order for any real estate sale to close, the title must be clear — that is, free of any claims or doubts about ownership. That means if there is any sort of lien or claim to the property, the closing cannot proceed until that issue is cleared up. The Internal Revenue Service or...
Here’s what “under contract” means in real estate, how under-contract home sales can fall through, and whether you still can make a successful offer on a home that’s under contract. Key Takeaways: An under-contract home is one with an accepted purchase offer, but with contingencies ...
"Active" status may be further broken down into subcategories. "Active Contingent" means the house is still technically available, but its sale may be pending a buyer's financing approval. "Active Option Contract" means that the seller has accepted an offer from a purchaser, but the contract ...
In order for any real estate sale to close, the title must be clear — that is, free of any claims or doubts about ownership. That means if there is any sort of lien or claim to the property, the closing cannot proceed until that issue is cleared up. The Internal Revenue Service or...
for sale. An estimated 31 million Americans plan to buy a home this year, according to NerdWallet's2024 Home Buyer Report. But as of March 2024, the supply of available existing homes in the U.S. was just 1.11 million units, according to data from the National Association of Realtors. ...
The trustee plays a crucial role in the management and distribution of a trust. Find out what the trustee's responsibilities are and how to choose one.
“Other times, the house is in good condition, and it’s an estate, so the executor may just want to sell the home and move on with as little hassle as possible,” Katie Messenger, a Realtor with Bello Dimora Group in Louisville, Kentucky. Foreclosure is a common reason homes are sold...