What Is Contingent?
Contingent describes an offer or home sale that depends on conditions being met, such as a satisfactory inspection, loan approval, an appraisal at or above the price, or the buyer selling another home. If a condition fails, the buyer can usually cancel; a non-contingent offer gives those protections up.
Why it matters
Every contingency protects the buyer but adds uncertainty for the seller, so how many an offer includes - and for how long - often matters as much as the price.
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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.
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