Your agent should have been able to find out if it was in contract or if no response just asked you to submit a contingent offer.  

I have a contract on a property that is contingent on the sale of another property. 

If it is a multifamily unit, are there separate meters for each unit.If the tenants are there, ask how they like it there, if there are problems.If you do make an offer, it will be contingent on an inspection.

(They can, but it’s not worth the paper it’s printed on).If it’s a good deal, you can write the offer now and get the property tied up - but write the offer contingent on financing.  

They sent the contract which was insane and also contingent on the seller accepting my offer. 

@Travis Moultrie make sure you have a house under contingency before opening up an llc.

Use your frugality to build a giant size contingency fund. 

With this loan an Investor can avoid using a commercial loan that may have terms less favorable or avoid working with so called “hard money” lenders who may have higher costs and very high interest rates.This loan is also available for the purchase or refinance of a second home needing repair funds.Renovation must be done that will be permanently attached to the property and add value.A contingency reserve or basically funds for unforeseen items discovered during construction will be from 10% of the base budget to 20%.The maximum dollars for renovation defaults to $35,000 but can increased by approved exceptionAn example would be an Investor purchasing a 4 unit property for $400,000 needing $100,000 in renovation.

If you have a financing contingency based upon appraisal I as a seller would not do any repairs until this was  removed.

The realtor can come up with a true market valuation based on current comparable sales - and add in inspection, financing, and other contingencies.