You found the house. You pulled up the listing, got your hopes up, and then saw that gray little tag: Contingent. Or worse, Pending.

Here’s the question every buyer asks me next: is it gone, or do I still have a shot?

The honest answer depends on which status it is and why. So let me walk you through exactly what those two words mean in a South Dakota transaction, whether you can still make a move, and how I’d play it if this were your situation.

Contingent means “under contract, with strings attached”

When a Sioux Falls home goes contingent, the seller has accepted an offer — but that offer comes with conditions that have to be satisfied before the sale is locked in. Those conditions are the contingencies. Until they clear, the deal can still fall apart.

The most common contingencies you’ll see here are:

  • Financing (loan) contingency — the buyer’s mortgage has to get final approval. Pre-approval isn’t the same as a clear-to-close, and deals still die at underwriting.
  • Appraisal contingency — the home has to appraise at or near the contract price. In a market where prices climbed roughly 5% year over year, appraisal gaps happen. If you’ve run into this before, my breakdown of what to do when a Sioux Falls appraisal comes in low covers the options.
  • Inspection contingency — the buyer can back out or renegotiate based on what the inspector finds. Radon, a wet basement, an aging furnace — any of these can send a buyer back to the table.
  • Home sale contingency — the buyer has to sell their current home before they can close on this one. This is the shakiest contingency of all, and the one that gives you the best opening.
  • Title contingency — the title company has to deliver clean, marketable title. South Dakota uses title companies, not escrow agents, and title issues do surface.

The takeaway: a contingent home is spoken for, but it is not sold. Roughly one condition standing between that buyer and the finish line is one condition that can trip.

Pending means the conditions are cleared

Once every contingency has been met, the status flips to pending. The financing came through, the appraisal held, the inspection got resolved, and now both sides are just working toward closing.

In Sioux Falls, pending usually lasts 30 to 45 days when the buyer is financing — that’s the window the lender, the title company, and the closing attorney need to finish the paperwork. If you want the full picture of what happens during that stretch, I laid it out in how long it takes to close on a house in Sioux Falls.

A pending home is a much longer shot for you as a buyer. Most of the uncertainty is gone. It’s not impossible — deals still collapse over a last-minute financing problem or a walkthrough surprise — but you’re betting on something going wrong, not positioning yourself for a realistic second chance.

Yes, you can still make an offer — here’s how

This is the part most buyers get wrong. They see “contingent” and cross the house off the list. That’s a mistake, especially on a home you’d genuinely want.

You have two real tools.

The backup offer. On a contingent listing, you can submit a written backup offer that sits in second position. If the first deal falls through — the buyer’s financing collapses, the inspection blows up the deal, their home doesn’t sell — your offer automatically moves into first position without you having to scramble or compete all over again. You’re first in line, not first to hear about it and then racing five other people.

A backup offer in South Dakota works like any other offer. You’ll put up earnest money, and you’ll want to understand how that deposit is handled before you sign — I cover that in how much earnest money you need in Sioux Falls. Your earnest money isn’t at risk while you’re sitting in backup position; it only comes into play if your offer activates and you move forward.

The stronger offer on a home-sale contingency. When the accepted offer includes a home sale contingency, many South Dakota purchase agreements include a kick-out clause. That lets the seller keep marketing the home. If a better, cleaner offer comes in — say, yours, with no home to sell — the seller can notify the first buyer, who typically gets 48 to 72 hours to remove their contingency or step aside. If they can’t, you’re in.

That’s why a contingent home with a home sale contingency is the most gettable of all. The seller is often quietly hoping something better shows up.

What this looks like in the current Sioux Falls market

Timing matters here, and 2026 is a specific kind of market.

The median Sioux Falls sale price is sitting around $345,000, homes are closing at about 97.5% of list price, and inventory is running near 3.4 months — balanced, not frantic. Well-priced homes are selling in about 41 days, down from 62 days a year ago. But about one in five listings still takes a price cut, almost always because it launched overpriced.

What does that mean for you and a contingent home?

It means the first deal is more likely to hold on a sharp, well-priced listing — those buyers are committed. But on an overpriced home that went contingent with a weak or stretched buyer, the odds of a fall-through climb. A backup offer on that kind of listing is a smart, low-cost bet.

New construction is its own animal. In the Tea, Harrisburg, and northwest Sioux Falls corridors, builders like Van Buskirk, Allen Homes, and Cordes often keep a spec home listed as “contingent” while a buyer works through financing on a build. If that buyer’s loan falls apart, a ready backup buyer can step in fast. Just remember the builder’s on-site rep works for the builder — you want your own representation registered from your first visit, which I explain in why you need your own Realtor for new construction.

How I’d play it for you

Here’s what I tell my clients when the home they love shows contingent or pending.

If it’s pending, I’ll reach out to the listing agent and get a read, but I’ll keep showing you other homes. I won’t let you stall your search waiting on a long shot.

If it’s contingent, I dig in. I find out which contingency is in play and how firm the first buyer looks. If it’s a home sale contingency, we get aggressive about a backup — that’s your best opening. If it’s financing or inspection, we weigh whether a backup is worth locking in. Either way, we get your offer strong from the start, and my guide to how much to offer on a house in Sioux Falls is where that conversation begins.

The buyers who win in this market aren’t always the ones with the most money. They’re the ones positioned to move the moment a door cracks open.

Frequently Asked Questions

Can I make an offer on a contingent house in Sioux Falls?

Yes. You can submit a written backup offer that moves into first position if the current deal falls through. On listings with a home sale contingency, a strong offer can even trigger a kick-out clause, giving the first buyer 48 to 72 hours to firm up or walk.

Is it worth putting in a backup offer?

Often, yes — especially if it’s a home you’d genuinely buy. A backup offer costs you nothing to hold, keeps you first in line, and spares you from competing all over again if the first deal collapses. The best candidates are contingent listings with home sale or shaky financing contingencies.

How long does a home stay pending in Sioux Falls?

Usually 30 to 45 days when the buyer is financing. That covers the time the lender, the title company, and the closing attorney need to finalize the loan and prepare closing documents. Cash deals can close faster.

What happens to my earnest money in a backup offer?

While you’re in backup position, your earnest money generally isn’t at risk. It only becomes active if the first deal falls apart and your offer moves into first position and you decide to move forward under the contract terms.

Does contingent mean I’ve lost the house?

No. Contingent means the home is under contract but the sale still depends on conditions being met. Deals fall through over financing, appraisal, inspection, or a buyer’s home not selling. A backup offer positions you to step in if that happens.

If you’ve found a Sioux Falls home that’s already contingent or pending, don’t assume it’s gone. The right move depends on which status it is and why — and that’s exactly the read I give my clients before we decide whether to write a backup. If you want a straight answer on a specific listing, call or text me at 605-201-2846, or reach out through siouxfallsgreathomes.wordpress.com. I’ll tell you honestly whether it’s worth your shot.

About Jeff Merrill

Jeff Merrill leads The Jeff Merrill Team, powered by eXp Realty, serving Sioux Falls and the surrounding South Dakota communities of Madison, Mitchell, Canistota, and beyond. He helps motivated buyers, sellers, and new agents cut through the hype in real estate with honest guidance, hands-on mentorship, and a track record of real results. Connect with Jeff at siouxfallsgreathomes.wordpress.com or call 605-201-2846.