My sister is looking at a real estate listing and she’s wondering what this means? Does it mean there is a pending sale?
Might mean “contingent”?
Is she looking at a house that is a short sale?
When a short sale property receives an offer, the offer is subject to bank approval. Thus, the offer must be marked CTG (contingent). In this case, the seller can keep the property listed as “active” (meaning for sale) until the bank approves or declines the deal. Banks can take 4 to 6 weeks to approve/decline an offer. Currently, about 20% of offers make it all the way through bank and investor approvals.
Your question is short. I hope I guessed the gist of your question. I am a real estate agent.
This is the collective voice of the talented editorial team at Answerprime.com. Committed to delivering high-quality content, this account represents the collaborative efforts of knowledgeable experts. With a passion for research and a dedication to accuracy, Answerprime brings you insightful articles across various subjects. Explore a diverse range of expertise and perspectives curated by the editorial team through the lens of Answerprime.
Latest posts by Answer Prime (see all)
- Failure configuring Windows Updates, Reverting changes, unable to boot to desktop. - April 18, 2024
- Windows 10 Taskbar is Empty - April 18, 2024
- Is there a way to get Theme Park/Theme Hospital on windows 8? - April 18, 2024
