What does active under contract mean vs pending?

Under contract is typically used to describe a listing that’s been accepted by the seller but hasn’t yet gone through the full process of being listed on the market.

What does active under contract mean vs active pending?

The biggest difference between active under contract and active pending is that pending is closer to getting accepted. Pending refers to the point where your application is still being evaluated for approval. When an account is submitted for approval, it is assigned a status of pending. This means that the approval of the account is not yet guaranteed. While the lender decides if your account is approved or denied, the underwriting process might take a few days or a few weeks.

What does active mean in real estate contracts?

When a property is under contract, it’s said to be “active.” This means that the seller is legally obligated to sell the property to the buyer at the contract price. If the buyer fails to accept the contract offer, the seller is legally free to sell the property to someone else.

What does active under contract mean in real estate?

If you put your property under contract to sell, but it’s still on the market, you are said to have an active listing if the buyers are still making offers. How about if you’ve accepted an offer on your property, but have not yet signed a purchase agreement? Or, if you’ve taken the keys and given the tenant the keys but haven’t yet moved them in? Those are all examples of active under contract listings or pending properties.

What does active under contract mean vs active?

Under contract is the most common term used in commercial leases. It means that the tenant has signed a lease agreement and is legally liable for paying rent and following all the other terms of the agreement. Leases can be “simple” or have numerous addenda. Addenda can include things like HOA and major tenant service addendums, which you should definitely read before signing.