What exactly does "under contract contingent" mean in real estate?
You hit it square on the head. Buying a house "contingent" on anything means that the contract can be held up due to the possibility of something happening or not happening. If you were to put in an offer "contingent" on selling your house, then you are telling the seller that you will not officially close the house until your house is sold. In the same vein, the seller can say that the sale to you (the buyer) will not close until they close on a house they will move into. It basically slows everything down. FYI, in a fast market, where houses sell really fast, many sellers will not even look at your offer if it is contingent on something. But, since this is a buyer's market, you could make an offer contingent on some factor and be the only one making the offer. You have the advantage right now as the buyer. Hope this helps.
by E.T. Barton - 3 hours ago
yes and yes!
by Carly Jacks - 3 hours ago
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