The Difference Between A Listing That Is Active With Contract Vs. Under Contract

Blog

If you are browsing online through property listings, you might come across some different terms that you do not fully understand. Two of the terms you might see are active with contract and under contract. If you see these two terms, you might think they are the same, yet they are not. They are two different things, and here is an explanation of the differences between these terms.

What an active with contract listing means

When a house is listed for sale, the listing agent will create a listing that describes the house and that states that the listing is active. An active listing is a house that is currently up for sale, and this means that the seller of the house will be allowing showings on the house. As soon as the seller receives an offer for the house and accepts it, the listing status might change, and one of the things it might change to is active with contract. When a listing states that it is active with contract, this means two things:

  1. The seller has accepted an offer from someone who wants to buy the house.
  2. The seller is willing to accept other offers for the house to use as backup offers in case the original deal falls through.

You are able to schedule viewings on homes that are listed as active with contract, but you should realize that there is a good chance you would not be able to buy a house with this listing, as you would be the second or third in line for the house.

What an under contract listing means

When a house listing status says that it is under contract, it also means that the seller has accepted an offer from someone, but it typically also means that the seller is not currently accepting other offers for the house. A house that is under contract simply means that the buyer and seller have reached a deal that will probably go through, but the deal is not yet completely final.

What you should do if you need help

Shopping for homes for sale online is a great way to start your search, but you will also need to hire a real estate agent to help you through the process. If you have not yet hired one and are interested in buying a house soon, contact a local real estate agency to speak to an agent.

Share  

28 April 2019

Choosing Beautiful Real Estate

I have always been someone who is passionate about making the world around me more beautiful, which is probably why I was drawn to real estate initially. I really wanted to create a place where me and my family could spend a lot of time together in a peaceful, relaxing place, so I started looking for places in my area that were fit for the job. Within a few months, I was able to find an incredible property that was within my price range, so I purchased it as soon as possible. This blog is all about choosing beautiful real estate.