What Does Under Contract Mean in Real Estate? By: Meribeth Phipps. your real estate agent typically changes the listing status of your home in the local multiple listing service. This status change switches the listing from active and available to under contract; it also serves as notice to other agents and prospective buyers that there's An active listing means the house is on the market and available for purchase. A pending sale is one that’s moving toward closing. An "under contract" status means there’s an accepted offer on the house, but the sale is still in an early, and perhaps precarious, stage. Listings for which the seller has accepted an offer should be changed to CONTINGENT or PENDING NO SHOW, with one exception: If the contingency on the accepted offer is either “House-To-Sell” or “First Right of Refusal,” the listing may remain as ACTIVE, provided that the contingency type is denoted in the Public Remarks and Agent Notes. In real estate, the words “under contract” means that a binding agreement exists between a buyer and a seller involving property. The buyer and the seller have agreed on a price and any other Under Contract - Continue to Show is a status that we as Realtors use when the property we had listed has an agreed upon contract. That contract is being held at a Title Company with Earnest Money attached. It also means that other buyers may go and see the home, accompanied by their Realtor. The under contract continue to show status allows the property to remain in the inventory of homes for sale even though there is a contract on the property. What does “under contract continue to show” mean? As long as the seller has the right to void the contract the Outer Banks MLS allows a listing agent to put the property in the When a home has “sales pending,” on its listing, that means there is an active purchase contract the seller and buyer agreed upon. While a new offer won’t bump the first buyer, you can always submit a backup offer, which the seller can look at if the first contract falls through for any reason.
or MLS, says "sale pending," this means the property's owner has received a formal, If the sale does not close, the agent will update the listing to "for sale. Once a property is "under contract," the contract is binding and the seller cannot
10 Jan 2019 Your home will not have a “sold” status on the MLS until after settlement. The sign in your front yard will also indicate “under contract”. 4 things sellers should do to prepare for a home appraisal you will receive a loan commitment letter, which means the buyers have been approved for the mortgage. Discover your dream home with UtahRealEstate.com. We offer the most up-to- date information on homes & REALTORS® in Utah. Always free & fast, start When you ask what “under contract” means, it seems you are referring to We would use the term “under agreement” UAG in MLS once the offer was accepted. Some also have the ability to change the status to Active with a Flag, the Flag Active listings on the MLS must have a valid listing contract in place with a real estate broker to be considered active. The listing may not be expired or withdrawn 27 Sep 2016 If the listing agent complied with this request, he or she would probably fully available ("Active") to under contract ("Contract"), contingent with a kick-out incumbent on the listing agent to use the same means (i.e., the MRIS listing) to Contract Issues · Disclosure · Licensing · Listings · Lockboxes · MLS 27 Feb 2019 Some real estate agents will also refer to a pending sale as “under contract.” Sometimes a pending sale has contingencies. This means the
23 Feb 2020 MLS Listing Status: BOM >> This means that a property was recently in a MLS Active Properties, Properties Under Contract, Sold Properties
On Monday, December 14th, 2015, a new status became available in MLS called Active Under Contract. This status was approved in the MLS rules in September 2016 and is now available for use in MLS. Definition of Active Under Contract: An offer has been accepted but the listing is still on market, with the specific contingency to be noted. Any Active (ACT) – Home is actively available on the market and does not currently have a contract on it. This doesn’t mean the Seller hasn’t received any offers yet – they may have – and its up to your Realtor to ask the listing agent. It does however mean the Seller hasn’t yet accepted any offers presented. What does 'for sale under contract' mean in the status of a In Florida when something is listed as "Active With Contract" it means that there is an executed contract on the property but the ACTIVE OPTION CONTRACT STATUS. Active Option Contract - this is a term we are asked about almost daily. The Active Option Contract status in Texas real estate means that the seller has accepted an offer on their property; the property is now under contract; and, the buyer is within the "option period." Active with contract (AWC) This means that even though there’s an accepted offer on the home, the seller is looking for backup offers in case the primary buyer falls through. While any seller Tagged with: can an under contract deal fall through, difference between sale pending and under contract, make an offer on a house with sale pending, making an offer on an under contract house, Sale pending vs. under contract, under contract vs sale pending, what does sale pending mean, what does under contract mean Active – Valid listing contract exists and no offer has been accepted. Pending with release, continue to show (PR) or (Pend w/Rls) – Accepted offer on the property, and a release, “escape” or “kick-out” clause exists in a purchase contract that allows one party to withdraw under certain circumstances.