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\n <\/div>\n \n Yes, You Can Buy Before You Sell. Why Move Twice?<\/h3>\n
Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency<\/strong>.<\/p>\n \n In real estate, when a house is listed as \u201ccontingent<\/a>,\u201d it means the sale of the property is conditional upon certain criteria being met. These conditions, or contingencies, are agreed upon by the buyer and seller during the negotiation phase. Essentially, the deal can proceed to closing only if these specified conditions are fulfilled.<\/p>\n Contingencies are designed to protect both parties involved, allowing the buyer to back out of the purchase without penalty under specific circumstances, such as issues discovered during a home inspection<\/a> or difficulties obtaining financing.<\/p>\n These conditions, set during the negotiation phase, can significantly impact the progress and outcome of a home sale. Here are some of the most common contingencies you might encounter:<\/p>\n The duration a house remains in a contingent status can vary widely, typically hinging on the specific terms outlined in the purchase agreement. A contingency period can be as brief as a week, or as long as three months, depending on the nature of the contingencies and the agreement between buyer and seller. The most extended periods typically relate to mortgage and home sale contingencies.<\/p>\n If all other conditions have been met except the mortgage contingency, the seller and their listing agent may feel confident enough about the sale to move the listing from \u201ccontingent\u201d to \u201cpending.\u201d If the buyer is offering an all-cash purchase, the listing may never be labeled as contingent.<\/p>\n","protected":false},"excerpt":{"rendered":" Discover how long a house can be contingent. This handy guide covers key aspects of real estate contingencies and their impact on your home purchase.<\/p>\n","protected":false},"author":298,"featured_media":40415,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[192,638,342],"tags":[],"class_list":["post-40414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-buyers","category-house-hunting","category-negotiations"],"acf":[],"yoast_head":"\nWhat does contingent mean?<\/h2>\n
Examples of real estate contingencies<\/h2>\n
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How long can a house be contingent?<\/h2>\n
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