The general word on contingent sales has been that they are short-sale deals that most likely won’t close. But I didn’t realize until recently how many of the contingent sales are not really contingent at all. I recently went into contract on an underpriced condominium. My offer was an all-cash, close in two weeks offer. The seller was the bank, who approved the offer. You don’t get much more non-contingent than that. But the unit is now listed as C instead of P. I’m not actually an agent, so for all I know that’s how it’s supposed to be listed. The point is that that is one C that is definitely going to close. That’s reassuring.
Some Contingent Sales Are Actually Pending