If the buyer does not remove the contingency to sell, usually the seller has the right to demand a cancellation of contract and refund the earnest money deposit to the buyer. Obtain a bridge loan. It is best to get preapproved for a bridge loan before receiving the 72-hour notice to perform.
https://www.thebalance.com/what-first-right-of-refusal-means-for-a-contingent-offer-1798834
Contingency Defined. Homes are often sold subject to particular contingencies. A contingency is a condition that must be satisfied before a party’s duty to perform his side of the contract arises. Often, a buyer will make an offer to purchase a house contingent upon the sale of his property. This means that the buyer does not have to purchase the property until he has sold his own property first.
http://budgeting.thenest.com/bid-house-offer-contingent-upon-sale-32178.html
Seller will keep the property on the market but accept a contingent offer, providing buyers with a 72-hour (negotiable) first-right-of-refusal notice to perform in the event seller receives a better offer. Seller will take the property off the market and wait for the buyer to sell the buyer's existing home.
https://www.thebalance.com/what-first-right-of-refusal-means-for-a-contingent-offer-1798834
Report Abuse. 1  Contingent Means. 2  Until t' he sellers will no longer accept offers, you can certainly tender an offer to purchase. 3  I believe that means the house has an offer on it but it's based on the potential buyer selling their current house.  This Site Might Help 1  You. Contingent means depending on....
https://answers.yahoo.com/question/index?qid=20080702101428AATJZqR
Definition: A contingency is a provision in a real estate contract that specifies the contract would cease to exist upon the occurrence of a certain event. Should rates rise quickly, and this rate not be available, the contract would end.
https://www.thebalance.com/contingency-in-real-estate-2866368
Answers.com® is making the world better one answer at a time. more than likely, the property was sold with contingencies Meaning the person bought something and will take possession providing everything checks out that was aggreed upon between buyer and seller Buyer reserves the right... 2 people found this useful.
http://www.answers.com/Q/What_does_the_term_sold_subject_to_contract_mean_regards_property
“Contingent” means it can be shown. “Pending” means it cannot be shown, although there may still be contingencies. Contingent : Contingent status indicates that a property under contract is subject to an additional contingency or condition, i.e. “Contingent Sales Addendum”, Due Diligence Period, etc. This status reflects a property available for showing and additional offers.
http://blog.mikejaquish.com/2010/07/07/under-contract-contingent-vs-pending/
Best Answer: Although 'contingent can mean something needs to happen or take place for this sale to go through (selling a home, obtaining financing, confirming information, the moon turning blue), in real estate, the status of contingent often refers to a buyer made an acceptable offer on the home, but needs to sell their current home first.
https://answers.yahoo.com/question/index?qid=20080702101428AATJZqR
Definition: A contingency is a provision in a real estate contract that specifies the contract would cease to exist upon the occurrence of a certain event. Example: This contract is contingent upon Buyer successfully obtaining a mortgage loan at an interest rate of 6% or lower..
https://www.thebalance.com/contingency-in-real-estate-2866368
Options for Removing Sale Contingency Under First Right of Refusal. 1  Obtain a bridge loan. 2  Tap a home equity line of credit. 3  Change your mortgage to a higher loan-to-value.  Borrow the down payment from a 1  relative. Remove your sale contingency and hope for the best.
https://www.thebalance.com/what-first-right-of-refusal-means-for-a-contingent-offer-1798834
what does sold subject to contingencies mean
The property was sold with contingencies meaning the person bought something and will take possession providing everything checks out that was agreed upon between buyer and seller. The property was sold with contingencies meaning the person bought something and will take possession providing everything checks out that was agreed upon between buyer and seller buyer reserves the right. The property was sold with contingencies Meaning the person bought something and will take possession providing everything checks out that was agreed upon between buyer and seller.