The words “contingent upon” could mean alot of things. It could be contigent upon Builder completing by specfic date. Or contingent upon sale of current property. Or Purchase contingent upon a mortgage approval.
You need to find out more on what it states than just “contingent upon” .
Just my $.02
I have a possible “subject 2” seller but they are building a new home which he described as having a “contingency clause.” Does that mean the seller can’t close on his new future home loan until he pays off his existing loan. OR does it mean that the clause protects him from having to close on the new home unless he takes care of his old payments in some manner. Or both?
What I mean is . . . does his contingency clause cut me out of completing a sub2 purchase of his old home.