what does in contract mean in real estate

Best answer

When a home is active under contract it means that abuyer has made an offer on the home and the seller has accepted,but the sale is not yet final. When the transaction is complete,the status of the home will show that it has sold. While the property is still under contract,all contingencies must be met before the sale is finalized.

People also ask

  • What does 渦nder contract?mean in real estate?

  • In real estate, 渦nder contract?means that a buyer has made an offer on a home and the seller has accepted. The buyer and seller have agreed on a purchase price and signed a formal agreement outlining the terms of the sale. While going under contract is a big step toward completing a home purchase, it doesn yet signal a done deal.

  • What does it mean when a listing says it’s under contract?

  • When a real estate listing says it’s 渦nder contract,?that means a buyer has made an offer and the seller has accepted. But it doesn mean the deal is done yet.

  • What does’under contract’mean when buying a home?

  • You’ve decided to buy a home and whether it’s your first home or your tenth you’re likely to stumble across homes that are listed as ‘under contract’ on the real estate listing. Homes under contract in real estate mean there is a contract on the home and is pending sale OR the home is listed as contingent – Both have differences in their meaning.

  • What does’active with contract’mean when buying a house?

  • A: In Florida when something is listed as Active With Contract it means that there is an executed contract on the property but the seller is also seeking back-up offers. We see it mostly on short sales.

    Similar Posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *