When checking online real estate listings, you might encounter phrases you don’t recognize. One such phrase is “contingent,” but what is a contingent sale, and how will it affect your property transaction? Realtors often assume that consumers have a firm grasp of all the real estate terms...
What Does "Status Active" Mean in Real Estate? Tips A property that's listed with an "Active" status is available for sale, without any pending contracts or contingencies. Status Active Subcategories "Active" status may be further broken down into subcategories. "Active Contingent" means the ho...
What does contingent mean 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 wil...
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...
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Overall, the active contingent status in real estate indicates that a property is under contract but still subject to certain conditions. It is crucial for both buyers and sellers to carefully navigate these contingencies to ensure a successful and smooth transaction. ...
Contingenciesin a real estate contract allow either one of the parties to back out of the deal if certain specified conditions are not met. This could include a home inspection that reveals serious problems with the home or the purchase being contingent upon the buyer securing financing (see abo...
As an aside, the age of the annuitant(s) is a key factor in determining the monthly income you receive. A younger buyer would receive less income than an older buyer given the same premium paid. That's because the total number of payments received is contingent on the annuitant's life ...
Contingency clauses are often used in real estate transactions whereby an offer to buy or sell a home is contingent on specific terms within a contract being satisfied. Buyer Financing A contingency clause in areal estate transactionmay require the buyer to obtain financing before thesellertransfers...