What does contingency mean in Florida real estate? - Echo Fine Properties Artboard 1? alert-icon? Artboard 1? ? ? delete-icon? edit-icon? email-icon hide-hover-icon? Artboard 1? login-icon-white Artboard 1? next-icon-left next-icon-right-left next-icon-left-ochre next-icon next-icon-right-grey next-icon-right-ochre plus-with-circle-iconP search-fw-icon? search-icon-ochre search-icon-white
26 OCT

What does contingency mean in Florida real estate?

By Jeff Lichtenstein

Jeff,

This listing, and many others I have noticed, are listed as contingency rather than active. What is contingency? In MA we don’t really have this. I see the 10/31 “deadline” – we will not be down there till the following week. Is that too late for this particular property? Thank you for your help.

Peter

———————————————————————————

Peter:

Contingency means that there is some condition of significance that has not been met; loan approval, inspection, and deposits are 3 prime examples. Once the major contingencies are met, then it gets moved to pending. You can always write a backup offer on a contingency or a pending. My guess is that 90% of contingencies get to sold.

Thanks,

Jeff

———————————————————————————

Jeff,

Thank you for the quick response.  I had a feeling that is what it was, but you know what happens when you assume.  Thank you again.

Peter

Posted in Ask Jeff, real estate on October 26, 2012 at 9:24 am.

SHARE

Celebrity Homes

from Beverley Hills
to Palm Beach

Never-before-seen-photos of your
favorite celebrity homes


View More Celebrity Homes

Related Posts


Leave a Reply

Your email address will not be published. Required fields are marked *

Your name and email address are required. Your personal information is strictly confidential and will not be shared with any outside organizations.

Ask Questions