How long does a house typically stay in Contingent SI status? We bid on a ReO house and didn't get it (we bid
$1000 more but theirs was a cash offer). We keep seeing it listing on the MLS site and were wondering if it was typical to be there that long without going into Pending or Sold.
Answers (1)
FIRST ANSWER
El,
There is no real amount of time that a home sits as Contingent SI. Contingent SI means that the home is Contingent upon the buyer’s home inspection and allotted time for a response between the parties. If the buyer has found there are issues then the buyer can request further inspections. The home goes pending once the buyer and seller have both responded to the inspection report and signed off.
Hope this helps.
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