What does active under contract mean when selling a house?

An active listing under contract means that the owners have accepted an offer on their property. Once the owners have accepted an offer, they have 30 days to officially close on the sale. At this stage, the buyers can order home inspections, financing, and any other final items needed for the sale to complete. Typically, you can expect the sale to close between 30-90 days after the owners accept the offer.

What does it mean when a house is active under contract?

If you put your house under contract but have not yet closed on it, you are said to be “active under contract.” Under California law, you are still the owner of the property until you sign the deed You cannot legally prevent a buyer from walking away and making an offer on another property.

What does active under contract mean when buying a home?

If you’re looking to buy a property that’s already under contract, you also need to know what that means. An active under contract listing is one that has received a written offer for purchase on the property from a qualified buyer and is in the process of being purchased by the seller.

What does active under contract with a seller mean?

It’s important to understand the difference between an active listing and an active under contract listing with a seller. When a seller puts their house on the market, they sign an agreement with their agent known as a listing agreement. This agreement outlines the details of the marketing plan for the home, including the price and how often the home is advertised. If the seller accepts an offer, then the under contract agreement is formed.

What does it mean to be active under contract with a house?

“Active under contract” means that the buyer signed a purchase agreement with the seller. The terms of the agreement will vary depending on the type of property and how long the agreement is for.