Marco Santarelli
APRIL 15, 2023
When a buyer submits an offer to purchase a property, and the seller accepts that offer, the property is considered “under contract.” This could be related to financing, inspection reports, or other factors that need to be addressed before the deal can proceed. What Does “Under Contract” Mean?
Point2Homes
DECEMBER 8, 2020
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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
HomeLight
JUNE 9, 2023
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. If you refuse and you can’t come to an agreement, they’re free to walk away.
Realty Biz
SEPTEMBER 14, 2021
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.
HomeLight
DECEMBER 31, 2020
You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?
HomeLight
NOVEMBER 1, 2021
If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. How is the appraised value of the home determined? What is an appraisal gap?
Windemere Selling
NOVEMBER 30, 2022
The following information is meant to clarify some common real estate terms that describe a home for sale and its position in the closing process. And for buyers, it helps to be familiar with these terms when searching for your next home and how they factor into making an offer. Image Source: Getty Images – Image Credit: xavierarnau.
Expert insights. Personalized for you.
52 
Let's personalize your content