The Difference Between Pending And Contingent Deals
The real estate market can be a bit confusing, especially when you encounter terms like "pending" and "contingent" deals. Understanding these terms is crucial whether you're a buyer or a seller, as they can significantly impact the progression of a property transaction. What Is a Contingent Deal? A contingent deal occurs when a seller has accepted an offer from a buyer, but the sale is dependent on certain conditions being met. These conditions, or contingencies, are clauses included in the contract that must be satisfied for the sale to proceed. Common contingencies include: Home Inspection Contingency: The buyer can back…