Active Contingent listed house for 6 weeks- What does it mean? (Hurst: sale, new house)

[GreyDay]

The home that I thought was perfect for my family is apparently still listed in the active contingent status on MLS. I was told that I'd originally been outbid about 5-6 weeks ago. I thought it was off the market, but suddenly, there it is on MLS as "Active Contingent".

What do you all think active contingent after 6 weeks means? If it means they're just doing inspections then there's no use.

Anyone have any experience with whatever (or even know what the buyer's contingencies could be) these active contingencies?

[nsumner]

A contingency could be any of the following:

Inspections
Financing
Sale of another house
It is supposed to be listed at the bottom of the listing. Viewable by your agent.

Many agents code the house wrong in the MLS. Sometimes there is an active kick out where if the owners receive an offer from you, they give the other buyers a certain time, usually 72 hours to remove that contingency, otherwise the sellers will work your offer.

Have your agent call the listing agent of the other house and find out if the contingency has been met.

Naima

[loves2read]

It could be the sellers took a contract that actually IS a contingency contract--meaning the buyers have to sell their house first before going to close...
contract like that usually means the sellers can entertain other offers if the buyers' contract is not filled within 30 days
so you might contact that realtor or if YOU have a realtor you were using when you looked at that house--get your realtor to contact the seller's realtor and see if they are entertaining other offers...

we know family who wanted to buy house that was on market but they had not sold their house--they wanted the seller to take a contingency offer allowing them opportunity to put their house on market and wait for offer--and to be fair houses in their neighborhood usually HAD offers within 30 days of going on the market--but he would not
so they decided to make the offer sans contingency and just hope that things worked out in their favor--
and they did

[GreyDay]

My realtor keeps saying they're on schedule to close in about 3 weeks, but I don't understand why it's not under contract at this point. Basically, I'm trying to find out if there's an opportunity to bid again but am being stonewalled (Hoya-Saxa!) a bit.

[nsumner]

If it is scheduled to close then it should be pending unless some contingencies haven't been met yet. If you're not getting straight answers call the seller's agent and ask them for the status and if the owner would accept an offer at this time.

Naima

[Rakin]

If it's contingent on the sale of another house it is:

1. Under Contract
2. It could remain contingent until the day of closing. The buyers house may be closing say Feb 20th and then they will close on this new house Feb 21st. Until they get their original house closed or the date in the contract is past, the contract is contingent.
3. I'm surprised the listing agent did not invite you to submit a "Backup Offer & Contract". Many contingencies do not work out & you then could move up to be the buyer under contract. The Listing agent may not be doing their job.
4. Contingencies are confusing to many people, even newer agents. Your agent should explain it better.

[GreyDay]

Originally Posted by Rakin

If it's contingent on the sale of another house it is:

1. Under Contract
2. It could remain contingent until the day of closing. The buyers house may be closing say Feb 20th and then they will close on this new house Feb 21st. Until they get their original house closed or the date in the contract is past, the contract is contingent.
3. I'm surprised the listing agent did not invite you to submit a "Backup Offer & Contract". Many contingencies do not work out & you then could move up to be the buyer under contract. The Listing agent may not be doing their job.
4. Contingencies are confusing to many people, even newer agents. Your agent should explain it better.

Thanks for the advice. I know my agent wants me to 'move on' to other houses. However if this home suddenly is up for grabs after I put in an offer on another house, I'm not going to be the happiest camper.

[GreyDay]

I'd really feel better about putting in an offer on another house if this one had a pending or under contract sign on it.

[Rakin]

Originally Posted by ganongrey

I'd really feel better about putting in an offer on another house if this one had a pending or under contract sign on it.

Very seldom do we agents put Contract Pending signs on the outside sign. DM me the address or the MLS number and let me look at the listing.

[loves2read]

putting "contract pending" signs on the outside sign must vary by area--
in my area--Colleyville, Southlake, NRHills, Hurst--that can be seen fairly often--
especially in the past when the market was much more active--

when a realtor took a listing and got a contract after the sign was out just a few days--that was a way to advertise your "prowess/capability"--to get other people to list with you...

there is local realtor in that area who gives a "pending" status on her website for MLS listings--
unlike most other sites that just take the house out of their MLS listings altogether--like it was sold/closed

When I was actively shopping for house I liked to check her site because it was one way to see what type of house/area was the most competitive on the market--