Many buyers ask me this question, and here’s my thorough answer:
“CNTG/NO KO” Means that the property is under contract, but has at least one pending contingency, and that contingency does not contain a kick-out clause.
as opposed to “CNTG/KO”, which means that there is at least one pending contingency, which does contain a kick-out clause.
What is a “Kick-Out Clause”? Good question. A kick-out clause is a pending contingency that would allow that buyer to be “kicked out” of the contract if another buyer should present a better offer within the kick out period. More info here
Here are all MLS statuses as defined by MRIS:
Hope this was helpful!