What does under contract mean in real estate? You can still make an offer on a property that is under contract, and if it is accepted and the first deal falls through for some reason, you will be in position to purchase.
What is the difference between active with contract and pending?
Active Under Contract vs Pending When a property is listed as “active under a contract,” there are conditions/contingencies that must be met before the deal can close. However, when a property is listed as “pending,” all the contingencies have been met and the deal is on the road to being finalized.
Does active under contract mean sold?
“Active Under Contract” is a real estate term that indicates the status of real property (single family home, condo, townhome, etc.) that has been put up for sale wherein a seller has accepted an offer from a buyer, but the deal has not yet closed. This term is primarily used in the State of California.
Can you make an offer on a house that is active contingent?
In most cases, putting an offer in on a contingent home is an option to consider. Although it doesn’t guarantee you’ll close on the home, it does mean you could be first in line should the current contract fall through. Putting an offer in on a contingent home is similar to the homebuying process of any active listing.
What comes first pending or under contract?
What does pending sale mean? This means that the home is under contract and all contingencies have been removed. A pending sale is further down the home buying timeline than a property that is under contract. Many seller’s agents will not continue accepting offers on homes once they have gone pending.
What does active with a contract mean?
A: Active with Contract means the buyers has a contract to purchase on the property. The contract has a contigency so the seller can still look and accept other offers.
What’s the difference between pending and under contract on Zillow?
What does it mean when a house is pending or contingent? When your real estate listing goes from “active” to “pending,” it means you’ve accepted an offer, but the sale hasn’t closed yet. (You’ll also hear real estate agents use the phrase “under contract” for this post-offer, pre-close time period, too).
What does it mean when a property has an active contract?
An “active – no-show” status indicates that the property is currently available for sale; however, the seller has specified that the property may not be toured during specific time periods. When you see the “active option contract” status, it indicates that the seller has accepted an offer, but it falls within the option period.
What does active option mean in real estate?
“Active Option Contract” means a seller has accepted an offer to sell a home, but the transaction is in the inspection or “option” period. During this negotiated time period, the buyer usually inspects and evaluates the property with the option of terminating the transaction.
What does ” active ” status mean in real estate?
When you see a property listed with “active – first right” status, it means that the seller has a prior agreement with a prospective buyer. This buyer has an opportunity to match any subsequent offers.
What does active with contingencies mean in real estate?
In some areas, an active option contract is called a contingency period or due diligence period. The “active with contingencies” status means that the seller has accepted an offer from a buyer, but the buyer must meet certain conditions before the sale may proceed.
