In real estate, “contingent” means the seller has accepted an offer, but the sale depends on certain conditions being met first.
These conditions—called contingencies—are designed to protect both buyer and seller during the transaction.
Some of the most common contingencies include:
• Home inspection – gives the buyer a chance to uncover issues and negotiate repairs or walk away.
• Financing – ensures the buyer can secure a mortgage before finalizing the purchase.
• Appraisal – confirms the property’s value matches the agreed price.
• Title check – makes sure the home has a clear legal title with no ownership disputes.
• Sale of another home – lets a buyer complete the sale of their current home before committing to a new one.
If all the conditions are met, the status usually shifts to “pending,” moving the deal closer to closing. If not, the buyer may have the right to exit the agreement without losing their deposit.
At Revolution Properties, we help clients navigate these steps with confidence—whether it’s a multi-family investment or a first home purchase. We make sure every detail is clear so you can move forward without surprises. 📞 Call now for details!
