"Contingent Offer"

Contingent Offer" most often means subject to the sale of another home, though a purchase agreement can be contingent on many things. Contingent offers can lead to the sale of your house, but they are not the same as other offers. Read the contingency agreement and make sure you understand it. If things get complex you should consult an attorney. Keeping this in mind, the contingent offer we are used to is mostly just a promise. A promise to buy at a certain price within a certain time if a certain house can be sold. Usually you want to be able to keep your house on the market with the shortest possible time required for contingency removal. How good is the offer? Even though it is just a promise you may be committed to take the offer even if a better one comes along. Be careful before you take the offer, you want to know if that house is likely to sell. Are they just putting it on the market or has it been for sale for the past year? Is it priced right.?