What does active under contract mean on a house for sale?

If a seller offers to sell a home under contract this means that a buyer has already signed a purchase agreement to purchase the property. The under contract status typically means that the buyer has taken some legal actions and gone through the final loan pre-approval process. Under a contract, the buyer has gone through some legal work and a home inspection.

What does it mean to have an agent active under

If you are looking at a listing that states the agent is under contract, it means that the listing agent is the exclusive negotiator for buying the property. As the agent who is under contract, the agent is legally required to disclose all pertinent information about the property and to represent the owner’s best interests.

What does active under contract mean?

If the seller puts a house under contract, it means they have accepted a buyer’s offer and are legally obligated to complete the sale. If the house is still on the market when the contract is signed, it means the seller is still trying to sell the house. At any time during the life of an under contract home sale, the seller can terminate the contract and accept a new buyer’s offer.

What does it mean when an agent is active under contract on a house for sale?

In order to show the market that there are multiple offers on a property, most Realtors will require an offer to be under contract with a certain time period before the seller can accept an offer. If you were to buy a property through an agent who is under contract, you would want to know that the Realtor has exclusivity on the property for a period of time. This ensures that the agent is working with the seller only to sell the property.

What does it mean to have active under contract on a house for sale?

If a home is under contract, it means that a buyer has signed a contract to purchase the property. The under contract period begins when the buyer signs the agreement to buy the property and ends when the buyer officially closes on the property.