What does active under contract mean on realtor?

Under normal circumstances, when a home seller signs a standard form purchase agreement with a buyer, the seller must complete all of the necessary items within the terms of the agreement. For example, the seller must send the deed to the buyer within a certain number of days, and the buyer must pay a portion of the purchase price within a certain number of days. If the seller fails to do any of these tasks within the time allotted, the sale can be canceled.

What does active under contract mean in Colorado?

Under contract means that the buyer and the seller have signed a legally binding agreement. Under Colorado’s real estate commission laws, a real estate agent is only required to pay commission to the seller when the property is under contract.

What does active under contract mean in Illinois?

As a general rule, the seller of a home who is the listing agent with a Realtor must disclose to potential buyers that the owner is the under contract on the property. If there is no disclosure, the buyer has no way of knowing.

What does active under contract mean on realtor reviews?

We’ve all heard the horror stories about listings that were on the market for weeks without an offer. While it’s true that homes rarely sell without an offer in the first place, what’s really happening is that “active under contract” is the default setting on most MLS listings.

What does active under contract mean on Zillow?

Zillow’s search for an active listing under contract is about the same as the search on any other real estate website. It allows potential buyers to see if the listing is still on the market and whether or not the seller has accepted a contract.