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  • March 11, 2015 at 1:13 PM #21432
    treehugger
    Participant

    I thought if a property was marked contingent this meant it was a short sale and the homeowners had accepted an offer, but the bank needed to accept the deal, so it was contingent on the banks acceptance?? I thought if it was marked pending it was a regular sale and had an accepted offer?

    There is a house in my neighborhood and it has been contingent for a few weeks, but they keep holding open houses every weekend and say they are accepting back-up offers, I am confused?

    But if it sold for less than selling now in 2013 how is it underwater now for shortsell?

    https://www.redfin.com/CA/Oceanside/4927-Lassen-Dr-92056/home/3456446?_escaped_fragment_=

    March 11, 2015 at 1:20 PM #783524
    The-Shoveler
    Participant

    Contingent usually means that the current buyer is contingent on the sale of their current house etc..

    In other words, If they cannot sell their current home then the deal may be canceled.

    March 11, 2015 at 1:52 PM #783527
    spdrun
    Participant

    Contingent — buyer hasn’t waived contingencies yet and is doing due diligence. No 10% deposit paid yet.

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