Meaning of Under Contract in Real Estate When a home is under contract, it means theseller has accepted the buyer’s offer and the parties have sign a purchase agreement. A home cannot be considered officially under contract until both buyer and seller have each accepted all terms and conditions of the contract.
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What does 渦nder contract?mean in a listing?
When a real estate listing says it’s ?strong>under 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 in real estate?
What Does Under Contract Mean in Real Estate? When a home is under contract, it means that a home seller has accepted an offer from a buyer for the sale of their home. The buyer and seller have agreed to the terms of a sale which may include the offer amount, closing costs, earnest money deposits, and contingencies that might prevent the sale.
What is the difference between under contract and under agreement?
Under contract, real estate listings are those where the buyer and seller have agreed on many of the terms of the sale, like the price, closing date, and contingencies. Under contract, in contract, and under agreement are often substituted for one another. These terms mean the same thing.
What does it mean when a property is under contract?
A: Under Contract means that the sellers have accepted an offer from a buyer, but that the sale has not yet been completed. Typically it takes 30-45 days from the date an offer is accepted until…