What does active under contract mean on a real estate listing?

A property is said to be under contract when a buyer has made an offer on a property and the listing agent has legally accepted it. Once the seller has accepted the offer on their property, they are legally obligated to complete the sale of the property. If the seller fails to complete the sale, the buyer can file a lawsuit against them for fraud or breach of contract.

What does it mean active under contract on a house?

If you are looking at a listing that has the “active under contract” status, that means it is actively for sale. However, it does not mean that the property has accepted an offer. If you see an agent represent the listing as “under contract” and the listing is not yet under contract, do not automatically assume the property is going to sell quickly.

What does it mean active under contract on a real estate listing?

An agent can put a property under contract when they have an offer on it. Once a property is sold under contract, the seller has 30 days to accept the offer. If the seller does not, they are said to have accepted an offer to purchase, which allows the buyer to legally move forward with the purchase.

What does active under contract mean on an MLS listing?

When a contract is signed on a property, the seller is obligated to provide a list of expenses, including a list of contingencies that could potentially require the buyer to make concessions. These contingencies are known as contingencies of title, and they include things like environmental and health issues, lawsuits, and inspections.

What does it mean active under contract on real estate?

If a property is listed and under contract with a buyer, that buyer’s offer might not be accepted by the seller. If the seller decides to accept offers on other properties, the first under contract offer will still be given a counter offer. The seller may also choose to negotiate with the buyer on the terms of the contract.