Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What does UNDER CONTRACT”! mean in real estate?

April 26, 2017Business contract Finance mean Real Estate renting Renting & Real Estate

0

Posted

What does UNDER CONTRACT”! mean in real estate?

3 Answers

0

Posted

If you’re looking to buy a property it usually means that there is someone in the process of buying the property in question and that the deal hasn’t been finalized but the party selling the property is obliged to sell to the person who made the offer unless the person purchasing the property has issues that cause the deal to fall apart. If the deal falls through the property will once again be available for purchase.

0

Posted

An offer has been made and accepted, but the deal has not yet closed.

0

Posted

In the world of real estate, there are many terms and phrases used that can be incredibly confusing to anyone who is not ingrained in the industry. “Under contract” is one such term–it is often confused by the general public as property that has already sold, which is not the case.