what does contingent (under contract accepting backups) mean
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Under Contract: âContingentâ vs. âPendingâ “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.
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What does active contingent mean? The standard contract allows the buyer to inspect the property before they decide to move forward with purchasing. This is called the contingency period. Most of the time, the buyer will have so many days to have a professional inspector come out and have their real estate lawyer look over everything to make sure it checks out.
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"What does ""option pending"" mean on a real estate listing?" In our MLS. that means that a contract has been accepted and is binding. The buyer has paid for an option period so they can have inspections done and back out if they feel they need to. That option to back out is what they call option pending. contract to lease with an option to buy, called a lease purchase or lease option agreement, is a typical rental agreement but for the option clause.
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"""I Have a Dream,"" Address Delivered at the March on Washington for Jobs and Freedom" I have a dream (Yes) [applause] that one day even the state of Mississippi, a state sweltering with the heat of injustice (Yeah), sweltering with the heat of oppression (Mhm), will be transformed into an oasis of freedom and justice.
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Contingent work For the employment status in Commonwealth countries, see casual employment (contract). Contingent work or casual work is an employment relationship which is considered non-permanent. These jobs are typically part time (typically with variable hours), have limited job security, and result in payment on a piece work basis. Contingent work is usually not considered to be a career or part of a career.
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CONTINGENT Meaning: A gathering of persons representative of some larger group. Classified under: Nouns denoting groupings of people or objects. Context example: each nation sent a contingent of athletes to the Olympics. Hypernyms (contingent is a kind of...): assemblage; gathering (a group of persons together in one place)
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"What does it mean when a home is listed as ""contingent"" on Redfin.com?" Definition of Contingent. This means the seller has accepted an offer on the property, but success may still depend on passing a home inspection or getting financing. There are different types of contingent statuses. For example, Contingent - Show means that it is still possible to tour the property and submit a backup offer in case the current one falls through. Contingent - No Show indicates that the seller no longer wishes to show the property.
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What is the difference between a contract and a contingent contract? Every contract is a contingent contract, this is not true, because the contingency of a contract is actually one of the condition of the execution of the contract, contingent contracts are executed when a certain event (s) has been executed.
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Contingent Labor Contingent Labor refers to a certain form of employment between employees and employers. In regular language, contingent labor can mean any type of work which is not secure or regular.
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- In that case, I would definitely show it. We call it a contingent contract, status Active Release Clause. All too often these deals fall out due to timing of the sale of other home and it's a good possibility the new buyer would get the home. I would especially do this with short sales.
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- Active Contingent, means just that. There is a contingency on the sale of the property, it could be the home inspection, financial commitment or sale of their own home.
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- Contingency may refer to. Contingency (philosophy), in philosophy and logic; Contingent fee in commercial matters; Contingency management in medicine; Contingency plan in planning; Contingency table in statistics; Contingent claims in finance; Contingent liability in law; Contingent vote in politics; Contingent work and contingent workforce, an employment relationship
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What does active contingent mean? Active-contingent as a property status means that the property has a contract in place and is contingent on a term to be completed before it will close. The term can be approval from a third party, getting a mortgage, et cetera.
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Contingent liability Contingent Liability. Definition: A contingent liability is either a possible obligation arising from past events and depending on future events not under an entity's control, or a present obligation not recognized because either the entity cannot measure the obligation or settlement is not probable.ontingent Liability. Definition: A contingent liability is either a possible obligation arising from past events and depending on future events not under an entity's control, or a present obligation not recognized because either the entity cannot measure the obligation or settlement is not probable.
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"What does ""contingent"" mean when looking at listings? I have seen a few houses with that statement and wonder if they are still available." Active contingent is when a home seller has received an offer from a buyer, but the buyer needs to meet certain conditions before the sale can be finalized. These conditions may include a home inspection or getting approval on a mortgage loan.
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What is the difference between a contract and a contingent contract? Best Answer: Contract :-. An agreement enforcible by law is called a contract. Contingent contract :-. A contract which is to be executed on the happening of a particular event (s) is called a contingent contract. Difference betweent the two :-.
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contingency fee contingency fee. noun. 1. contingent fee. contingent fee. noun. 1. a fee paid to a lawyer conducting a suit, especially a suit for damages, in the event that the suit is successful and generally based on a percentage of the sum recovered. Also called contingency fee.
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Whatâs the Difference Between Contingent and Pending Listings? When a listing has changed status to “pending”, the seller has accepted an offer. This is an off-market status. Pending listings are much more common than contingent listings, since it just means the seller and buyer have agreed to the initial terms in the residential purchase agreement.
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contingent contingent. 1  dependent for existence, occurrence, character, etc., on something not yet certain; conditional (often followed by on or upon): Our plans are contingent on the weather. 2  liable to happen or not; uncertain; possible: They had to plan for contingent expenses.
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How does a contingent fee agreement work? A contingency fee agreement is a payment arrangement that allows a plaintiff who has been injured and is seeking legal remedy to obtain legal representation even if they do not have money to pay a lawyer at the beginning of the case.he basic concept of the contingency fee agreement is that the client is out little or no upfront expenses; you as a client do not pay legal fees unless and until you win, and then the lawyer receives a percentage of your recovery as his or her fee.
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What does pending mean? When a property is marked as contingent, an offer has been accepted by the seller. Contingent deals are still active listings because they are liable to fall out of contract if requested provisions are not met. If all goes well, contingent deals will advance to a pending state.
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- Contingent: The status of a company where additional information is needed to re-activate the license. Denial: The Department of Insurance has determined that the license shall not be activated at this time. Pending: Status automatically assigned to a new license that has not been activated. Revoked: Company lost its licensing privileges.
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- A contingent fee (in the United States) or conditional fee (in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result.In the law, it is defined as a fee charged for a lawyer's services only if the lawsuit is successful or is favorably settled out of court....Contingent fees are usually calculated as a percentage of the client's net recovery.. In the English legal system, it is generally referred to as no win no fee. contingent fee (in the United States) or conditional fee (in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result. In the law, it is defined as a fee charged for a lawyer's services only if the lawsuit is successful or is favorably settled out of court....
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What's under contract option pending mean? Under contract option pending means the sellers have accepted a contract with a termination option for the buyer. The standard residential purchase contract contains a termination option for the buyer to allow them to conduct their inspections and gives the buyer the right to terminate for any reason during the contract defined option period.
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- A stronger version of the contingent offer is a ‘Pending Sale’ Contingent Offer, which simply means, the buyer still has the house to sell as part of the package, but the buyer’s home is not still sitting on the market – it is pending sale.
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How to Bid on a House With an Offer Contingent Upon Sale 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.