When you search our site, the listings that are displayed could have one of four status options. The options are:
Contingent Short Sale
Contingent means that there is an offer but it is contingent on something. Before the flood of foreclosures, a contingent property usually meant the offer was contingent on another property selling first. In this scenario, another Buyer could submit an offer that was non-contingent and the first Buyer had 24 hours to remove their contingency or the Seller could accept the new offer.
With foreclosures, contingency scenarios have changed. When offers are submitted to the bank, the listing goes into contingent status. Depending on the bank, it could remain in this status for months but the bank will not accept any other offers.
So, what we have done is added the ability for you to choose the Status when defining a search or new listing email notification. This will allow you to not receive contingent short sale or reo listings if you desire.
The Advanced Search form is available here and also in the search menu under “Form Searches”.