frequently asked questions

What does contingent mean in real estate?

The National Association of Realtors (NAR) reported closed in January 2020 were done so with contingencies attached. If you’re part of the 61 percent of American’s who spend up to two hours per week online searching for their dream home*, chances are you’ve seen your fair share of listings marked with the word “contingent.”

In its simplest form, contingency means “dependent on or conditioned by something else.”

Contingency in real estate is an agreement between the buyer and seller that the real estate transaction will go through only once (and if) the agreed-upon conditions are met. The buyer makes an offer, the seller accepts, but either party can withdraw from the transaction if contingencies are not satisfied.

There are five types of contingencies most often used within real estate contracts.

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