What is An Active Contingent'?

If you're searching for a home and you've found one you like, but the official status is "active contingent" is it still possible to get this home? 

What does it mean?

If a home's status reads "active contingent" all that means is the buyer has given their offer, but with contingencies. A contingency is an issue that needs to be resolved before the sale can be final. The contingencies that appear fairly often are a homes inspection, buyer getting approved for a loan, and the buyer being able to sell their home. Once all the contingencies are met, the sale process can proceed. 

What's the difference between active contingent and sale pending?

The active contingent means several issues are currently being resolved, while sale pending simply means there were no contingencies, or they have all been met. 

So does this mean you shouldn't put an offer in for an active contingent?

The odds aren't likely, but it still doesn't mean you shouldn't cast your line. Who knows, your offer may be more reasonable as attractive, and they decide to call a meeting. The only time you shouldn't is when the seller's agent says they are no longer accepting bids. 

So if you're going to submit an offer just to see what happens, you better make it one hell of an attractive offer. Stranger things have happened than seller's jumping ship to the backup offer. 

Offer a fair price, ideally zero contingencies, as is, and a local lender is about perfect.

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