what does contingent real estate mean
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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 does ""pending"" mean in real estate?" What does pending mean in real estate? Definition of Pending A home's status is changed to Pending or Pending Offer once it's set to close and all contingencies have been satisfied or waived. This is when the lender and the escrow agent or attorney process the loan and title documents to make sure the deal closes on time.
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- Full Definition of CONTINGENT. 1. : likely but not certain to happen: possible. 2. : not logically necessary; especially: empirical. 3. a: happening by chance or unforeseen causes b: subject to chance or unseen effects: unpredictable c: intended for use in circumstances not completely foreseen. 4.5.ull Definition of CONTINGENT. 1. : likely but not certain to happen: possible. 2. : not logically necessary; especially: empirical. 3. a: happening by chance or unforeseen causes b: subject to chance or unseen effects: unpredictable c: intended for use in circumstances not completely foreseen. 4.
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What does âactive contingentâ or âcontingentâ mean and how can it pay off for you? Discover what 'contingent' and 'pending' mean in real estate and different listing statuses. by Tara-Nicholle Nelson. Q: Every time we look for a house (condo, townhouse or single-family home) and find one we like, by the time we go to make an offer, it’s always been either contingent or pending. Why? And also, what does contingent and active contingent and pending mean in real estate? –Eric B., Las Vegas.
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contingent Definition of contingent for English Language Learners. : 1  a group of people who go to a place together, do something together, or share some quality, interest, etc. : 2  a group of soldiers who come from a particular army and are working together with soldiers from other armies.
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How to Merge Unallocated Space in Windows 10 for a Large Partition But you want to merge these two unallocated spaces with the partition. In these two circumstances, it is needful to combine two unallocated spaces. Let's look at a screenshot of the disk layout in Disk Management: From the figure, you see there are two unallocated spaces which are far away from each other.
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- Global Power is a leading provider of custom-engineered auxiliary equipment and maintenance support services for the global power generation industry. As energy demand increases worldwide, demand for power generation products and services is also expected to increase. Global Power has the knowledge, manufacturing capabilities, skills and safety record needed by the power generation industry to meet the challenge of supplying growing power demand. Our vast products portfolio span from auxiliary equipment for gas turbines to small, high alloy parts such as seals, shims and brackets.
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- visual communication. 1. Real estate: the net worth of a property as perceived by the owner depending on its current use which may be greater or lower than its market value.
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What does pending taking backup &active contigent mean in real estate? Best Answer: Pending means that there is an accepted contract on the house and they are waiting to close. Taking back-up means that there is a contract on the property that has been accepted, but they will negotiate back-up offers in case the contract that is currently on the home falls apart. Active means that the home is actively on the market. Contingent means that there is a contract on the propert subject to something else taking place in order for it to close i.e. the buyer may have a home to sell first, they might just be waiting for financing,etc. Honestly, you have a lot of questions and should be working with an agent.
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Duties and Responsibilities of Real Estate Broker A real estate broker is a person licensed to negotiate and arrange real estate transactions. It would include writing contracts for listing and purchasing homes, land, and commercial properties. The broker is a higher level license than a real estate agent and would be authorized to hire real estate agents to work under the broker's supervision. In some states, every licensed professional is licensed as a broker, such as in Colorado and New Mexico.
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contingent fee contingent fee. Method of remunerating agents, brokers, lawyers, etc., in which no fee is paid until the objective(s) of the arrangement (a court case, contract, sale, etc.) is won or achieved. However, the principal (client) is usually responsible for statutory charges and incidental expenses incurred in course of the action.
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- 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.
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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.A conditional fee agreement between a law firm and a client. The usual form of this agreement is that the solicitor will take a law case on the understanding that if lost, no payment is made. 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 does resale mean in real estate? Confidence votes 1.3K. In real estate, there is what they call pre-foreclosure selling of properties - wherein the owner, who is nearing foreclosure - could resell the property to a prospective buyer in cooperation of their lender / bank. This is to save the credit of the owner and avoid foreclosure that may damage their credit record.
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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." Contingent on the Triangle MLS means there is a contract on the home, but the home is still available to be shown. It may be shown to buyers who may wish to either make a Back Up Offer, or who may have interest and wish to be ready should the contract be terminated and again become an Active listing.
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What is Contingent Interest? Contingent Interest definition - A contingent interest is an interest which is uncertain, either as to the person who will enjoy it in possession or as to the event on which it will arise. 57 Am J1st Wills § 1217. A future interest is contingent where the person to whom or the event upon which it is limited to take effect in possession or become a vested estate is uncertain.
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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." Hi, mster, Contingent on the Triangle MLS means there is a contract on the home, but the home is still available to be shown. It may be shown to buyers who may wish to either make a Back Up Offer, or who may have interest and wish to be ready should the contract be terminated and again become an Active listing.
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Real estate Also: the business of real estate; the profession of buying, selling, or renting land, buildings, or housing. It is a legal term used in jurisdictions whose legal system is derived from English common law, such as India, the United Kingdom, United States, Canada, Pakistan, Australia, and New Zealand
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What Is a Contingent With No Kickout? When a house goes under contract, its status is changed to contingent.. You've been browsing real estate listings for hours and finally come across a house that piques your interest. However, next to its status, it says contingent with no kickout, rather than active.. If you're new to the home-buying process, you might wonder if this means that as a buyer, you're out of luck. When a seller accepts an offer on a property, the listing's status changes to contingent..
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- Legal Definition of contingent. 1  1 : likely but not certain to happen — compare executory. 2  2 : intended for use in circumstances not completely foreseen a contingent fund. 3  3 : dependent on or conditioned by something else a contingent claim a legacy contingent on the marriage — compare vested.
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Contingencies in Real Estate Contracts 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..
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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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- I would agree that this is just a fancy way to say it's a short sale. However, don't overlook the possibility that the word contingent may mean that the property is already under contract. So basically you can read this 2 ways: 1. This is a short sale that is contingent on the lien release.2. This is a short sale that is already under contract and just waiting for approval. Either way it's a short sale-you just need to find out if you are putting in an offer or a backup offer. would agree that this is just a fancy way to say it's a short sale. However, don't overlook the possibility that the word contingent may mean that the property is already under contract. So basically you can read this 2 ways: 1. This is a short sale that is contingent on the lien release.
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Contingency sale offers becoming more acceptable Specific time frame. Typical real estate contract contingencies give buyers time to have a home inspection performed or obtain financing. A contingent sale offer gives buyers a set period, often 30 or 60 days, to list their home and enter into a contract.
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- You’re looking for homes and find one that really piques your interest, except it has a “contingent offer” status. As you keep browsing, you notice a lot of properties do.
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real estate broker real estate broker. Definition. A person licensed to arrange the buying and selling of real estate for a fee. A real estate broker acts as an intermediary between the parties selling and buying the real estate. Real estate brokers can also be called real estate salespersons, and the people who assist them (who are generally not required to be licensed) are generally called real estate agents.