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What does Active Contingent mean?

Frequently, I get calls from clients that are interested in houses that are listed as Active Contingent. What does this mean in the Charleston, SC market? Unfortunately, they are disappointed to learn that in our market this is synonymous with Under Contract. The listing status of a house is changed to AC (Active Contingent) after the owner's have negotiated and ratified a contract. The house will remain AC until it closes several weeks or months later. But can we put an offer? Some owners are open to accepting "back-up" offers. Your agent can write up and submit an offer to be considered in the event that the current offer falls thru. Sometimes this does happen, a buyer's financing falls thru or they discover something in the inspection that is concerning. In fact, this just happened this Spring with a home I had for sale on James Island. Although back-up offers are often a long shot, sometimes they pan out!

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