09/28/2026
🏡 REAL ESTATE TERM OF THE MONTH: CONTINGENCY
One question I get all the time is: “What does contingent mean?” 🤔
When you see a home listed as “contingent,” it generally means the seller has accepted an offer, but the sale still depends on certain conditions being met before the transaction can move forward.
A contingency is essentially a condition or safeguard written into the contract. Common examples include:
🔍 Inspection Contingency — Gives the buyer time to inspect the home and, depending on the contract, address any issues that come up.
💰 Financing Contingency — Gives the buyer time to secure their mortgage.
🏠 Appraisal Contingency — Addresses what happens if the home appraises for less than the agreed purchase price.
🏡 Home Sale Contingency — Makes the purchase dependent on the buyer selling their current home.
So when you see “contingent” on a listing, it doesn’t necessarily mean the home is officially sold. There are still steps and conditions that may need to be completed before closing.
Real estate terminology can be confusing — that’s what I’m here for! 🗝️
Bailey Black, REALTOR®
The Amy Poland Group
Town & Country Realty