Real Estate Glossary > C > Contingent Definition

This means the sellers have accepted on an offer on the property, but success may still depends on passing a home inspection A thorough investigation of a home by a licensed inspector to discover any issues or repairs that need to be made before buying the home. or getting financing. It may still be possible to tour these properties and submit a backup offer An additional offer on a home for sale where the sellers already accepted an offer. in case the current one falls through.

There are different types of contingent offers. For example, Contingent with Kickout means that the sellers are willing to accept a better offer if one comes along, and will "kick out" the current offer. Contingent No Kick Out means that the sellers indicated that they won't be accepting more offers. However, if the current offer falls through, then the listing will be switched back to Active This listing is for sale and the sellers are accepting offers. and the sellers will accept new offers.