What Does Active Under Contract Mean For Real Estate

The first 3 are easy enough. Technically it takes the home off the market but sellers dont have to remove it from the mls listing until the home closing. Active act home is actively available on the market and does not currently have a contract on it.

what does active under contract mean for real estate

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Glar mls this is a new term that is now showing for listings in the louisville ky mls real estate terms this new term active under contract has been very confusing for many of my clients as well as others.

What does active under contract mean for real estate.

Significance other interested buyers in the area and their respective agents need to know if a home is already under contract so that they can determine if it is worth the time to look at the property.
Sold and active are self explanatory.
This doesnt mean the seller hasnt received any offers yet they may have and its up to your realtor to ask the listing agent.
Properties can display in any of four official statuses.

That doesnt mean that its a done deal by any means however more on that next.
What this means is the seller is requesting backup offers.
Pending is a term that might take some getting used to but its an oldie.
However the mls participating office will continue to market the property.

It does however mean the seller hasnt yet accepted any offers presented.
One of the more confusing changes recently to local online real estate is a new term.
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.
Active under contract means theres a written offer.

Many properties in tampa bay are listed as active with contract.
In some cases the seller may not even be able to enter into a backup contract.
If the seller specifically requests in writing that the property on which there is a contract stay active in the mls database the listing will be changed to the awc status.
What does active under contract mean.

The seller cannot enter another contract with another buyer though.
Under contract uc the seller has an agreed upon contract with the potential buyer.
Active with contract means there is a contract on the property with a contingency.
The written offer is a contract between the buyer and the seller.

The term under contract is used in real estate to indicate that there is a pending contract on the property but it has not yet sold or closed.
The terms of the contract arent officially met until closing day when consideration and ownership of the home changes hands.
Therefore the home is officially under contract once its buyer and seller have signed a sales contract and the seller has communicated acceptance to the buyer.