Active Contingent vs. Pending
Generally, once a listing is removed from Active status. it falls into either Active Contingent or Pending status. Either way, the listing is no longer Active, so buyers will not see them as being available to purchase. Agents will simply tell them that listing is in pending status and no longer available to receive offers.
That is only half correct. Active Contingent offers can still receive offers (in backup position) due to the contingency which can still cause the offer to fall out of contract and put the listing back on market. Typically the contingencies are 1) loan 2) appraisal and 3) inspection. If the buyers does not want to remove a contingency, they can get their earnest money deposit back and the listing will go back on market.
The listing goes first to Active Contingent, then once the contingency has been removed, it goes to pending during the duration of the escrow period. Then changes to Sold.
Pending status means the offer came with no contingencies or a Non-Contingent Offer. So the likelihood of the listing coming back on market during the escrow period is very low as the buyer will have to leave the deposit if they want to back out of the deal.
With the shifting market, we are seeing much more Active Contingent offers.
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