what does active contingent mean?

Asked by Ks3ra, Morton Grove, IL Fri Feb 15, 2013

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This question was asked from this property: http://www.trulia.com/property/3083953062-8138-N-Ottawa-Ave-…

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5
Angie Rowland, Agent, Rocklin, CA
Tue Feb 2, 2016
Active contingent is a property status generally referring to a short sale property that is in contract between a buyer and seller but the sale is still contingent upon the lenders approval. Once approved by the lender the status will be updated as pending.
0 votes
Riccardo War…, Agent, Bolingbrook, IL
Wed Mar 6, 2013
The property already has a contract on it but they are still showing it.

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Joanne Matik, Agent, Glenview, IL
Wed Mar 6, 2013
It means they are still showing it, but already have a buyer contracted to buy it.
0 votes
Angie Rowland, Agent, Rocklin, CA
Fri Feb 15, 2013
In todays' market the most common reason to see "active cont." is when you have a short sale with an offer submitted to the bank for short sale approval. In reality, this property is probably not available to view or even offer on unless you are looking to be in a back up position. You will begin to see less "active cont." and more "pending short sale approval" because once an offer is accepted by the seller it really should go on MLS as pending. If you are looking to buy you will be best off sticking to "active" only so that you don't get frustrated that everything is already gone. I hope this was helpful.
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Bryce Fuller, Agent, Glenview, IL
Fri Feb 15, 2013
It means that there is an accepted offer on the property. But, it also means that the offer is "contingent" on something. It could mean that the financing isn't in place yet, it could mean that there is still an inspection that has to take place or that the attorney's are haggling over something in the contract. However, officially, it is still on the market and if the seller will allow it, you can see it and make an offer.
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