Along the same vein as a contingent offer, we often get the question about the meaning of “active contingent” in real estate.
Active contingent is one of a variety of status updates given to a home listing. If a property has an active contingent label, it means the seller has accepted an offer from a buyer. But the home sale has certain contingencies that need to be met, and the seller is taking backup offers in case the first deal does not go through.
Similar to contingencies being protection for the buyer, having the listing be active contingent offers protections for the seller.
Having a home be active contingent can influence a buyer to release contingencies prematurely, or when they shouldn’t be, just so the “other guy” doesn’t get the house. This would be a mistake!
Buying and selling real estate can be a very emotional time. Relying on your agent to guide you through the process is the best way to end in a result that you will be happy with!
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![💸 Creative Ways to Afford Your First Home 💸
It’s a tough time for rookie homebuyers – but don’t despair. By using a few creative workarounds, you can still make your homeownership dreams come true.
🏡 Cover part of your mortgage by getting a roommate or leasing out your garage.
🏡 Consider buying a home with friends or family members.
🏡 Ask loved ones for help with your down payment or closing costs.
🏡 Look for special programs and assistance.
🏡 Expand your home search to new areas and rethink your requirements.
Visit our latest blog post for more creative workarounds you can use to afford your first home! ➡ [Link in Bio]
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