If you're interested in a property that's listed with an active contingent status, you may still be able to make an offer. While the initial offer will take precedence if all the contingencies are satisfied, making an offer can put you at the head of the line if the original deal falls through.

Owners whose home is in contingent status can accept a backup offer, and that offer will have precedence if the initial deal does not go through, so if you like a contingent property, it makes sense for you to make an offer on the listing so that you are in position to buy if something goes wrong with that transaction.

It's less likely you'll get a great deal when making an offer on a contingent home. In most cases, a contingent offer is high to encourage sellers to hold out if the closing process takes longer than anticipated.

You can still make an offer on a home if it's listed as contingent or pending, but you should consider where the property is in the process to determine the likelihood of your offer being accepted.

If the offer hasn't been executed by both sides, the seller can totally keep showing and negotiating other offers. If it has been executed by both parties, they can continue to entertain other offers as ``back up'' offers, in case the original offer dies for one reason or another.

Can you outbid a contingent offer? No, it's not possible to outbid a contingent offer. The seller has already accepted an offer while waiting for certain conditions to be satisfied before closing. However, some sellers will accept backup bids while engaged in a contingent offer.

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Contingency clauses are often included in contracts for home and land purchases. They typically protect the buyer from fraud and other risks.Contingencies are typically conditions that have to be satisfied for either the buyer or seller, in order for a contract to proceed toward closing. In general my advice to seller clients is to consider contingent offers only when the buyer's property is already in contract. A number of standard contingency clauses which give the parties the right to cancel and back out of the contract under specified circumstances. A contingency period provides a finite amount of time for the parties to complete their contingencies. Contingencies can work in everyone's favor. You must have additional savings to pay out of pocket any difference between the appraised value and your offer price. A subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS®. If a listing is marked as contingent, it means that the sellers have accepted an offer and the property is now in escrow.

House Offer With Contingency In Los Angeles

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