Most times a contingent property is still able to be shown to other prospective purchasers and they can write an offer to be considered as a back up offer should the buyer who is in escrow decide to not purchase the property. Occasionally you will find a seller that is not interested in continuing to show their property once in escrow which in my mind is a silly thing to do but we won't go there now as that is another conversation.
Sometimes you will see a listing indicating Contingent Release and this means the same as Contingent but that the buyer has a property that he/she needs to sell in order to purchase this property. In that case it is still available to show and write offers on. If an acceptable offer is written on it the seller will inform the buyer that that has happened and the buyer then has a specified amount of time to decide whether or not they are willing to remove the contingency to sell their own propety and move forward in the transaction or back out and allow the person without a property to sell to move into contract. I know it can be quite confusing but I do hope that some of this has helped to explain the situation.
The same can be with the physical condition of a house, you offer to buy a house contingent an inspection, depending on the findings you agree to move forward with the purchase or withdraw from the contract as long as you are with in the investigations period. Hope this helps!
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When a property shows as 'contingent,' it means that an offer has been accepted and that the buyer is in the process of inspections and lining up their financing. It also might mean the buyer has a house to sell, but that is a less common contingency. It also usually means the home can continue to be shown to other possible buyers for the position of back-up offer if another buyer is interested, and in case the first buyer falters. There are timeframes for these contingencies and without speaking to the listing agent for the property it's not possible to know exactly how long the timeframes are. Hope the answer is useful.