What is a contingent sale? Once a buyer makes an offer on a home, there are a few contingencies involved in the offer, including the home inspection, appraisal, and loan approval, among others. After the home inspection contingency is removed, you still have to wait for the appraisal to come back and be cleared for the final loan approval. While you’re waiting for these things to clear, the MLS (and other public real estate websites) will state that the home in question is contingent on the market, meaning the seller can’t take another offer in place of the contingent offer. If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.
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