To make your offer stronger, consider writing an offer letter to the homeowner, explaining why you are the perfect buyer, or even making your real estate contract one with zero contingencies, or with as few contingencies as you as a home buyer are comfortable with. But the sellers might not consider the offer, depending on what the sellers (and their real estate agent) have promised the other potential buyer. If you’re up for a waiting game, go for it. There are no rules against buyers making an offer on a contingent listing. Can you make an offer on a contingent listing? That way, you can receive a notice the moment the real estate transaction falls through and is back on the market. If you’re in the home-buying market and the property you like is listed as contingent, you can also place an alert on the listing. Sometimes the deal falls apart for reasons that may be quite justified-don’t let your obsession with the home cloud your judgment as a buyer. The home inspector might have found something that would make the property undesirable or even make it possible to renegotiate the purchase price. Still, if the pending contract is contingent on a clean home inspection and the buyers back out, you may want to reconsider jumping in yourself. That should give you a better sense of your chances with the home. “In the agent comments on the MLS listings (which the general public cannot see), it will typically say what the contingency clause is for and when it will be over,” says Dale Weir, a Realtor in Chesterfield, MO. If they’re just waiting for an appraisal or fulfillment of a termite inspection contingency, you’re probably too late. If the sale has a contingency based on the buyers selling their current home, for example, the sellers may be accepting other offers. The seller might be willing to continue showing the property during this time, but if it’s a house you’re excited about, talk to your real estate agent.

Even deals in contract can sometimes fall through due to a contingency, so all hope may not be lost. But you should never say never, especially if you’ve fallen hard for the house. Most experts say you’re probably too late to the game. So is it still worthwhile to pursue the home? Your ideal new home might be listed as having a contingency, meaning the sellers have accepted an offer from a buyer, subject to one or more contingencies. Should you make an offer on a contingency listing? However, real estate is generally shown as “pending” in the real estate listing, rather than as having a contingency, if the buyer’s only contingency clause is a financing contingency, an inspection contingency, or other standard contingency. Obviously, the buyer cannot purchase the property without a mortgage. For example, purchases made with a mortgage generally have a financing contingency. Not all contingent offers are marked as a contingency in the real estate listing. Or it could mean the seller and buyer are waiting for the official paperwork for short-sale terms that have been verbally or informally approved. The buyer is waiting for a spouse or co-buyer, who is not immediately available to sign off on the home sale.Īdditionally, if it’s a real estate short sale-meaning the lender must accept a lesser amount than the mortgage on the home-a contingency might mean that the buyer and seller are waiting for approval of the price and sale terms from the investor or lender.The buyer has a contingency based on the appraisal.The buyer is waiting to get the home inspection report.The buyer’s mortgage pre-approval letter is still pending.These are some common contingencies that could delay a contract: So when “contingency” appears in the listing itself, “it means the sellers have already accepted an offer on the property (at least regarding price), but there are still steps to clear before the contract goes fully pending in the system,” says Stephanie Crawford, a Realtor® in Nashville, TN. If the buyer is having trouble getting a mortgage, or the property appraisal is too low and the bank won’t increase the loan, or there’s some other problem with getting a mortgage, a contingency clause means that the contract can be broken with no penalty or loss of earnest money to the buyer or seller.

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