Home Selling in 60610>Question Details

Dclepp27, Renter in Chicago, IL

What does active contingent mean?

Asked by Dclepp27, Chicago, IL Sat Sep 3, 2011

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Scott Godzyk’s answer
In most cases it means there is a buyer who has a contract to purchase the house but it is contingent on something. The majority of contingincies are such things as getting a mortgage, or a home inspection, selling a home or approval of a short sale by the sellers bank. you can always ask the listing agent what the contongincy is before looking at it.

Basically it means you can not buy it unless the first buyers contingincy is not met and their contract is canceled. Good luck with your purchase.
Web Reference: http://www.ScottSellsNH.com
4 votes Thank Flag Link Mon Sep 5, 2011
Happy New Year!! Once a buyer and seller negotiate and come to an agreement on price it is written on a contract. While a listing is "under contract" there are usually two stages: first "active/contingent" (aka A/I), then "pending" (aka Pend).

The standard contract allows the buyer to inspect the property before they decide to move forward with purchasing. This is called the contingency period. Most of the time, the buyer will have so many days to have a professional inspector come out and have their real estate lawyer look over everything to make sure it checks out. This is the "A/I" or "Active Contingent" period.

Once the buyer checks everything out and decides they want to move forward, the buyer's attorney will inform the seller's attorney and the listing will move from "A/I" to "Pend". In a demonstration of good faith, the buyer usually submits their final earnest money to show they are serious with moving forward and purchasing the property.

So if you are a buyer and see something "A/I" there is a chance it might come back on the market. Depending on the home inspection and attorney review. If you see something "pend" there is a lower chance it will come back on the market.

Please feel free to reach me anytime on my cell phone at (312) 497-9747 or email at Sean@atproperties.com with any additional questions or concerns. I am more than happy to help!
2 votes Thank Flag Link Thu Jan 3, 2013
Hi,

Contingent means the sale is based upon something else taking place. It could mean the sale is contingent upon the buyer obtaining financing.

Terry
2 votes Thank Flag Link Sat Sep 3, 2011
It means the listing is currently active but in contract with a buyer.
2 votes Thank Flag Link Sat Sep 3, 2011
1. Active - property is listed, and available for showing,

2. Contingent (could also be Active/Contingent) - there is an offer, and there are some contingencies, e.g., attorney review, mortgage, etc,

3. Pending - there is an offer, it's under contract, there are not contingencies, and we are just waiting to close.
1 vote Thank Flag Link Tue Nov 4, 2014
It means that it's under contract contingent upon......
0 votes Thank Flag Link Tue Apr 15, 2014
the seller accepted an offer on the property and is contingent on inspection/attorney review and financing etc.
0 votes Thank Flag Link Sun Oct 6, 2013
It means that the seller has accepted an offer on the property and that agreement is contingent on certain conditions. The most common contingencies are Attorney Review, Inspection, and Financing.
0 votes Thank Flag Link Tue Oct 1, 2013
It means that the seller has accepted an offer on the property and that agreement is contingent on certain conditions. The most common contingencies are Attorney Review, Inspection, and Financing.
0 votes Thank Flag Link Tue Oct 1, 2013
Hello,

Active-contingent as a property status means that the property has a contract in place and is contingent on a term to be completed before it will close. The term can be approval from a third party, getting a mortgage, et cetera. Most public search sites are not updated real time, so even if the property shows an active status, it may be under contract. The market has been rapid fire these last several weeks and is faster than the updates :D

I would be glad to have a short strategy session in order to explain the home search and buying process from A to Z at our Clark Street location.

All the best!
0 votes Thank Flag Link Sat Nov 3, 2012
Wow, I was reading some answers below that are not really the case, at least in our local MLS. It simply means that it is a short sale that has an offer but the lender has not yet approved it. You can still submit back up offers.
0 votes Thank Flag Link Wed Sep 14, 2011
That is not entirely correct as the home I am purchasing is listed 'Active - Contingent' and it solely means (in our case) that the Seller needs to make certain repairs before we (the Buyers) choose to Settle. It is most certainly not a Short Sale and no, no other Offers can be submitted on our house. Also, I have seen other homes listed the same for friends and/or family that have purchased homes with Contingencies for repairs to be made. Yes, of course the Short Sale scenario is another reason for Active/Contingent but it's certainly not the only reason. Your comment is rather misleading to anyone seeking information.
Flag Tue Feb 24, 2015
Hi there!

Thank you so much for posting your question about this status mark from connectMLS. In this particular database, active contingent (“CTG” is what we are guessing you mean – i.e., contingent) means that the seller of the property has come to an agreement, in writing, with a potential buyer for the purchase of the home. In most cases, this particular status means that the attorneys have not yet reviewed the contract and approved it and that the financing has not been finalized. Are you searching for a home to purchase in the Chicago area? If you are, you should definitely find an experienced, helpful real estate agent to assist you in your search. Having a great agent will make sure that you have the answers to all of your questions and can get super comfortable with the process AND the lingo so that your search is as pleasant and fruitful as possible. Please let us know if we can help – we are always here.

Best of luck to you and thank you again!
Web Reference: http://www.dreamtown.com
0 votes Thank Flag Link Thu Sep 8, 2011
it means that the property is not closed and that the seller is working on a contract with a party exclusively and it may or may not come to agreement
Web Reference: http://www.joeschiller.net
0 votes Thank Flag Link Thu Sep 8, 2011
In most cases it means there is a buyer who has a contract to purchase the house but it is contingent on something. The majority of contingincies are buyers selling a home to purchase the new property. Your agent can ask the listing agent what the contingincy is before viewing the property. Most listing agents put a 24 hour to 48 hour clause in the buyers contract. This clause states if the buyer cannot remove the continigincy in this amount of time then seller has the right to sell the property to somebody else who can move forward with the purchase of their property.
0 votes Thank Flag Link Mon Sep 5, 2011
It means there is an active contract on the property, contingent upon a specifc set of criteria (inspections, financing, ect.). They can still accept offers, but it would be a backup contract.
0 votes Thank Flag Link Mon Sep 5, 2011
Hi Dc,

It means there is an agreed to offer (contract) that is contingent based on either the buyer/seller selling/buying another property, or it can be that the property is a short sale and the buyer has not agreed to ALL the terms and the sellers are still showing and accepting offers.

It can also mean they are waiting for the attorney review or inspection period to expire before changing the status to pending. Does it show like this A/I? If so, that is usually waiting for attorney review. Without seeing what exactly you're looking at it's hard to pinpoint.

Hope this helps and good luck!
0 votes Thank Flag Link Mon Sep 5, 2011
In Pennsylvania, it means that it contingencies such as inspections may exist. It may also mean that it is active due to a home contigency and typically, homes in this category would be active "F", which means first right of refusal.
0 votes Thank Flag Link Sun Sep 4, 2011
In North Florida, Active Contingent means there are conditions to be met such as short sale lien holders approval,Buyer's financing, Home inspection etc.

If the home is in Active Congingent in our area, it indicates that you can place a "back up" contract on the property subject the the non-performance of the first offer.

In our area, Active Contingent is widely used on Short Sale properties. So many short slae first offers are withdrawn when the lien holder(bank) fails to meet the first offers deadline date for lien holders written approval and acceptance of the offer.

If there is a "back up" offer the agent can present the back up offer at the same time the documents to withdraw the first offer is submitted to the lien holder to avoid further delays in the lien holder's processing of the file.
0 votes Thank Flag Link Sun Sep 4, 2011
It means there is a contract on the house but that contract is still "contingent"--meaning there are contingencies that need to be satisfied such as the home inspection, appraisal and or loan approval.
0 votes Thank Flag Link Sun Sep 4, 2011
Means it under contract. They have to keep it active contingent until it closes.
Web Reference: http://AmericorpRe.com
0 votes Thank Flag Link Sun Sep 4, 2011
It means the property is under contract but it is still is actively for sale and usually that's because the buyer has to sell their home before they can close on the new home but the seller can still accept another offer from someone who doesn't have that issue
0 votes Thank Flag Link Sat Sep 3, 2011
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