Yes, typically you can still make an offer on a listing that is active under contract. While there are no promises regarding the likelihood of that offer getting accepted, there may be some unforeseen circumstance that prevents the initial sale from going through and with that, you may be happy you put in an offer.
What's the difference between active under contract and pending?
“Under contract” means the seller has accepted an offer, but there are still conditions to clear before closing. “Active under contract” means the seller is welcoming backup offers. “Pending” means the home is under contract, and all conditions have been met for the deal to close.
What does it mean when Zillow says under contract?
'Under Contract' is probably the most accurate way to describe a pending or 'contingent' sale. It means the same as the other statuses above; a buyer and seller have agreed to terms and have executed a contract. But, the contract has yet to go to closing.
What does active under contract mean on Redfin?
When a home is active under contract it means that a buyer has made an offer on the home and the seller has accepted, but the sale is not yet final. When the transaction is complete, the status of the home will show that it has sold.
Can a seller accept other offers while under contract?
While laws vary by state, in general, up until that contract is signed by both parties—even after counteroffers have been sent out—all new offers can be considered and accepted. Once both parties have signed it, however, the seller is pretty much locked into the deal.
What does it mean when a house is active and under contract?
“Active Under Contract” is a real estate term that indicates the status of real property (single family home, condo, townhome, etc.) that has been put up for sale wherein a seller has accepted an offer from a buyer, but the deal has not yet closed. This term is primarily used in the State of California.
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What does it mean when a property is listed as under contract?
What Does “Under Contract” Mean In Real Estate? Under contract means that a seller has accepted an offer on the property, but the sale isn't final until all contingencies are met. It typically takes 4 – 8 weeks from the date the offer is accepted until the sale is complete.
Frequently Asked Questions
Does under contract mean sold?
The Bottom Line: A Home Under Contract Isn't Quite Sold Yet
A home that's under contract indicates a seller has accepted a buyer's offer to purchase the property. But before the sale of the home can actually close, certain contingencies must first be met. Otherwise, the deal can still fall through.
How often do contingent offers fall through?
Among contingent offers, less than five percent fall through, according to multiple sources. Broken offers may arise because the buyer isn't able to secure financing or because the seller isn't willing to lower their listing price after a low appraisal.
What is the difference between active under contract and contingent?
To recap, Active under contract means that a real estate listing has a potential buyer, but contingencies are in place. This real estate term is used interchangeably with Contingent status. You've still got a chance to buy this home, as up to 10% of homes fall out of contract during the contingency period.
FAQ
- What does under contract mean on realtor com?
- As you scroll through the real estate listings, you might spot a few that say the house is “under contract.” In most cases, a property is listed as “under contract” once a buyer has made an offer and the seller has accepted. While that's a big step, it doesn't mean the deal is done quite yet.
- What does active under contract mean on a house?
- “Active Under Contract” is a real estate term that indicates the status of real property (single family home, condo, townhome, etc.) that has been put up for sale wherein a seller has accepted an offer from a buyer, but the deal has not yet closed. This term is primarily used in the State of California.
- Which is better under contract or pending?
- Under contract vs. sale pending: What's the difference? While “under contract” typically means there are still contingencies left to clear, pending status usually means all contingencies have been met and the deal is on its way to closing. Pending listings are less likely to accept backup offers.
What does active under contract mean with house sale
| What does active option contract mean? | An active option contract means the seller has accepted an offer on their home and the property is now in the option period. During this time, the buyer has the unrestricted right to terminate the contract for any reason without risking their earnest money deposit. |
| What is the difference between active with offer and contingent? | Active – The home is for sale, listed on the Multiple Listing Service (MLS). Contingent – The seller has accepted a conditional offer and the contingency or contingencies have not yet been removed. Pending – The home sale is moving toward finalization. Sold – The sale is officially closed and recorded by the county. |
- Why would a house go from pending to active?
- A real estate listing might go back to active from pending due to several reasons such as the buyer's financing falling through, inspection issues, or the buyer simply backing out of the deal.
- What does active with contract mean on MLS?
- This term is primarily used in the State of California. A property's status is set to "Active" when posted to a Multiple Listing Service (MLS) and then subsequently updated to Active Under Contract when an offer is accepted until the deal closes or is cancelled. After closing, the status changes to "Sold."
