There are several subcategories of contingent statuses, each with slightly different implications. If an active listing is marked as Contingent: Continue to Show, or CCS, there are likely multiple outstanding contingencies to satisfy. In this scenario, a seller and their agent will continue to show the property and may even accept a better offer from another potential buyer.1. Contingent: Continue To Show (CCS)
To prevent a seller from overlooking your offer, consider getting a mortgage preapproval for a home loan or making an earnest money deposit. Work with your real estate agent to see what you can do to strengthen your purchase offer.
2. Contingent: No Show
In a Contingent: No Show scenario, the seller isn’t showing the property or accepting other offers. This status reflects the seller’s confidence that any outstanding contingencies will likely be satisfied.
3. Contingent: With Or Without A Kick-Out Clause
When a contingent status has a kick-out clause, the seller can continue to show the home and accept additional offers. If the seller receives a stronger offer during this time – usually an offer with no contingencies – the kick-out clause allows them to release the original offer in favor of the new one.
4. Contingent: Short Sale
A short sale is when a bank or other mortgage lender agrees to accept less money from a home sale than the homeowner currently owes on the mortgage. Despite its name, a short sale typically takes months to complete. A Contingent: Short-Sale status indicates that the home is no longer for sale because the seller has accepted an offer – but the sale is still contingent on satisfying certain conditions.
5. Contingent: Probate
The Contingent: Probate status occurs when an estate is being sold after a homeowner’s death. Probate is the legal process of reviewing a will and distributing the deceased’s assets.
