What Does Contingent Mean in Real Estate?

What Does Contingent Mean in Real Estate? (Chicago Edition)

If you’re browsing homes in Chicago and see one listed as contingent, don’t scroll past just yet! It doesn’t mean the home’s completely off the market—but it does mean the seller has accepted an offer with certain conditions attached.

A contingency is basically a safety net for one or both parties in a real estate deal. For example, a home inspection might need to pass before the sale moves forward, or the buyer must secure financing. Until those conditions are met, the home is still technically available—but in a “wait-and-see” stage.

So, can you still make an offer on a contingent home? Yes—but the seller would only consider it as a backup offer, in case the first deal falls through.

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Chicago’s competitive housing market often sees listings go contingent quickly. If you're a buyer, don’t get discouraged. You can stay ahead by keeping tabs on featured listings and working closely with a local agent who knows how to navigate these situations.

If you’re a seller, pricing your home right and preparing for contingencies can make or break your deal. Want to know where you stand? Find out your home’s worth in today’s market.

And if speed is your priority, you might want to get a cash offer instead—no contingencies, no waiting.

Still confused about contingent status or anything real estate-related? Connect with a local expert who can help you sort it out, stress-free. For more industry standards, check out the National Association of Realtors.

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We’ll help you prep, price, and sell your home with confidence—fast and with less stress.
📍 Tell us about your home or call/text 📞 (312) 361-8288.
Have questions? Email us at info@heartofchicagohomes.com.