Remove Agents Remove Backup offer Remove Marketing Remove Purchase and sale agreement
article thumbnail

4 Things Sellers Need to Know About Backup Offers

First Team Real Estate

According to the latest National Association of REALTORS® Profile of Home Buyers and Sellers, the typical home sold last year was on the market for just three weeks. Home sales are moving quickly today because of limited inventory, causing lucky home sellers to see an increase in multiple bids or bidding wars. What is a backup offer?

article thumbnail

Can a Home Seller Under Contract Still Accept a Higher Offer?

Realtor.com

The buyers fell in love and made an offer, and you let out a great, big sigh of relief when the contract was signed. Then it happens—another offer comes in, and a better one at that. When is a sale a sale? It is absolutely critical that, as a seller, you understand the purchase agreement and any counteroffers you sign.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Will a House With an Offer On It Be Removed From the MLS? Agents Explain How It Works

HomeLight

The MLS is a real estate database of all the homes in your area that are currently for sale, pending sale, or have recently been sold, and so much more. There’s a wealth of information within the MLS, and your agent has access to all of these useful details. How do I know where a home is in the sales process?

MLS 109
article thumbnail

Contingent vs. Under Contract: What Do These Terms Mean?

Marco Santarelli

Make sure to speak with your real estate agent and legal counsel to ensure that you fully understand these terms and how they apply to your specific situation. When a buyer submits an offer to purchase a property, and the seller accepts that offer, the property is considered “under contract.”

article thumbnail

The Meaning of Active Under Contract Explained

Realty Biz

In some places, active under contract indicates that a contract has been signed but is contingent on certain conditions being met before the sale is finalized. In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS). The seller has agreed to accept a contingent offer from the purchaser.

article thumbnail

What Does Contingent Mean in Real Estate?

HomeLight

A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. ” Step one: Talk to a few buyer's agents!

article thumbnail

What is a Contingent House Listing?

Point2Homes

But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met. However, even if the seller receives a higher offer, they cannot accept it. Contingent Statuses.