In 2006, I wrote the post “What Does Bumpable Mean?” It is one of the most read posts ever. The Cliff Note version is that the seller accepts the buyer’s offer that is contingent on something else, usually the sale of the buyer’s existing home. The buyer has a set amount of time to sell their home but if the seller gets another offer before the contingency is cleared, the buyer has the option to remove the contingency and proceed to closing or be bumped and therefore lose the house. With a normal “Pending” sale, the home is off the market once the offer is accepted.
Bumpable sales make up a very small portion of the Portland real estate market. In Multnomah County, there are on 30 bumpable sales in contrast with 1620 pending sales.