Real Estate Lingo

In the realm of property transactions, contingencies serve as safeguards, dictating that certain conditions must be met for a contract to remain valid.

Whether it's passing an appraisal, securing a clean inspection, or meeting specified deadlines, these clauses ensure accountability and protect both parties involved.

While a contingent status denotes an accepted offer pending these conditions, once fulfilled, the property transitions to 'pending,' marking progress toward closure. 🏠✅