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What is active active contingent in real estate

Discover everything you need to know about active active contingent in real estate, its implications, and how it affects property transactions in the US.

Introduction:

Real estate transactions involve various terms and conditions that can be confusing for both buyers and sellers. One such term is "active active contingent." In this article, we will delve into the details of what active active contingent means in the real estate industry in the US. We will explore its implications, how it affects property transactions, and answer some frequently asked questions to help you understand this concept better.

Understanding Active Active Contingent

Active active contingent is a status that appears on property listings in the Multiple Listing Service (MLS). It indicates that a property has an accepted offer, but the seller has requested to continue showing the property and receiving backup offers. This status is commonly used when the initial offer has contingencies that have not been satisfied or released.

How Does Active Active Contingent Affect Property Transactions?

  1. Increased Competition:
    • Being active active contingent means that the seller is open to receiving backup offers. This can create a sense of urgency among buyers, leading to increased competition.
    • Buyers may need to

Discover the meaning and implications of the term "active contingent" in the US real estate market. Gain expert insights into this crucial aspect of property transactions, providing you with the information needed to navigate the industry with confidence.

In the dynamic and ever-evolving world of real estate, it is imperative for both buyers and sellers to understand the various terms and conditions that govern property transactions. One such term that often arises is "active contingent." This review aims to demystify this concept, shedding light on what active contingent means in the US real estate market. By providing expert insight in an informative and accessible manner, readers will gain a solid understanding of this crucial aspect of property sales.

Understanding Active Contingent:
Active contingent is a term used to describe the status of a property listing that has an accepted offer but still carries certain conditions or contingencies. It signifies that the seller has accepted an offer from a potential buyer, but the sale is not yet finalized due to specific conditions that must be met. These conditions typically revolve around inspections, financing, or the sale of the buyer's current home.

Implications for Buyers:
For prospective buyers, discovering a property listed as active contingent can

What is the difference between active and active contingent?

Active – The home is for sale, listed on the Multiple Listing Service (MLS). Contingent – The seller has accepted a conditional offer and the contingency or contingencies have not yet been removed.


Can you put an offer on active contingent?

In most cases, putting an offer in on a contingent home is an option to consider. Although it doesn't guarantee you'll close on the home, it does mean you could be first in line should the current contract fall through. Putting an offer in on a contingent home is similar to the homebuying process of any active listing.

What does it mean when a house is active contingent?

A home is listed as “active contingent” when a seller has accepted an offer from a buyer, but there are contingencies that still need to be met before the sale of the property can close.


What is the difference between active contingent and pending?

The difference is that contingent listings still need to meet one or more specific conditions before moving forward. With pending deals, conditions have been met, and both parties are planning to move forward to closing. As a buyer, you may be able to make a backup offer on a listing that's under contract.

Can a seller accept another offer while contingent?

Contingency with a kick-out clause

That means the seller can continue to show the home and accept offers during the sale contingency period. If the seller gets a better offer, they'll allow the original buyer 72 hours to drop the sale contingency and proceed with the deal.

How far back does a real estate background check go in Texas?

Seven years

In general, real estate background checks cover seven years of criminal and court records, but may go back further depending on state and local laws and the type of check being used.

Frequently Asked Questions

Can a felon get a real estate license in California?

Denial or Approval is Up to the California Department of Real Estate. The California Business and Professions Code grant the Department of Real Estate (DRE) the right to deny a license based on a previous criminal record. This includes misdemeanor and felony convictions that occurred in any county in the country.

Can you put an offer on a house that is contingent?

If you're interested in a property that's listed with an active contingent status, you may still be able to make an offer. While the initial offer will take precedence if all the contingencies are satisfied, making an offer can put you at the head of the line if the original deal falls through.

Why don't sellers like contingent offers?

Contingent offers provide protection to buyers. But there are risks involved, especially for sellers. Because contingent offers require some other event to take place – such as an appraisal of a home for a certain amount or a home inspector giving a residence a passing grade – they can fall through.

FAQ

What is the difference between pending and active contingent?
The difference is that contingent listings still need to meet one or more specific conditions before moving forward. With pending deals, conditions have been met, and both parties are planning to move forward to closing. As a buyer, you may be able to make a backup offer on a listing that's under contract.
What does active with contingencies mean?
A home is listed as “active contingent” when a seller has accepted an offer from a buyer, but there are contingencies that still need to be met before the sale of the property can close.
Can I be a real estate agent in Florida with a felony?
Can a convicted felon get a real estate license in Florida? You may still apply for a real estate license in Florida if you have a criminal history. Rather than restricting those with certain convictions from applying, the Florida Real Estate Commission considers each applicant on their own merits.

What is active active contingent in real estate

Can a felon be a realtor OK? For someone who has had a rough background or a felony conviction, getting a real estate license can be challenging — but it's not impossible. The rules will obviously vary from state to state, but with adherence to some basic requirements, you can indeed pursue a career as a real estate agent.
Can a felon get a Texas real estate license? All applicants are evaluated on a case-by-case basis and offenses don't automatically disqualify you. TREC Rules 545.1(b) and 545.1(c) also considers factors like… So yes, you might be able to get a real estate license even if you have a criminal record.
Can I get a Colorado real estate license with a felony? Real Estate Agent License Suspensions for Criminal Convictions in Colorado. Colorado realtors may have their real estate licenses suspended or revoked if they get convicted of a Colorado felony. And having a criminal past can prevent aspiring agents from getting a license in the first place.
  • Can a felon get a real estate license in Tennessee?
    • Can a felon get a Tennessee real estate license? Individuals with a felony may apply and be considered for real estate licensure in Tennessee. During the application process, the candidate's criminal history will be reviewed by the Tennessee Real Estate Commission.
  • How often do contingent offers fall through?
    • Among contingent offers, less than five percent fall through, according to multiple sources. Broken offers may arise because the buyer isn't able to secure financing or because the seller isn't willing to lower their listing price after a low appraisal.

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