active contingent: WHAT DOES IT MEAN WHEN A PROPERTY IS ACTIVE CONTINGENT?
- 02/09/20 12:56 PM
When a property is listed for sale in the MLS, the home can be listed under a variety of different statuses. Most commonly, you are looking at homes that are listed as active. However, sometimes you may see properties listed as active continent. An active contingent property is a property where the owners have accepted an offer on the property, but the buyers must sell another property before closing on the sale of the subject property. In Texas, there is a promulgated contingency form that outlines the terms of this agreement. The Addendum For Sale of Other Property by Buyer form specifies when the buyers must (1 comments)