Contingent properties refer to real estate listings that have received an accepted offer from a buyer but are still subject to certain conditions. These conditions, known as contingencies, may include the buyer securing financing, completing a satisfactory home inspection, or selling their current home. Until these contingencies are resolved, the property remains available for backup offers. If the contingencies are not met, the seller may choose to relist the property or accept another offer. Common contingencies in real estate transactions involve mortgage approval, home inspections, and appraisal values. Understanding these terms is essential for both buyers and sellers in the property market.