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“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. This term is primarily used in the State of California.
Whats the difference between pending and active under contract?
Active Under Contract vs Pending When a property is listed as “active under a contract,” there are conditions/contingencies that must be met before the deal can close. However, when a property is listed as “pending,” all the contingencies have been met and the deal is on the road to being finalized.
What does listing status active under contract mean?
When a listing is in Active Under Contract, that property is under contract, but is still accepting showings and being actively marketed. Days on Market (DOM) and Cumulative Days on market (CDOM) will continue to accumulate when a listing is in Active Under Contract status.
What does active contract mean?
A: Active with Contract means the buyers has a contract to purchase on the property. The contract has a contigency so the seller can still look and accept other offers.
Why under contract is active?
What does active under contract mean? This means that the buyer has made a formal offer on the property, and the seller has accepted it. The point of this period is for the buyer to conduct all of their due diligence, for the appraisal to be completed, and for the formal loan approval to be obtained.
What does active status mean on Zillow?
ACTIVE – for properties that are offered for sale and have no accepted contract on them. This usually happens if the seller is interested in accepting another contract from a buyer who does not have a house to sell.
Can you make an offer on a house that is active under contract?
If a house is under contract, can I still make an offer? Yes, you may make an offer. However, the seller cannot accept your offer unless there is a breach of the current contract to which they are a party.
What does pending to active status mean?
All about active/pending “Active” means a property is for sale, and the seller is seeking offers. “Pending” means the property is still technically for sale, but someone has made an offer. It usually means the seller would like to get more offers, says Denise Shur, a Realtor® with 1:1 Realty in San Jose, CA.
What is pending to active status?
If a property goes from Pending to Active, this means the original contract fell through for some reason (Buyer terminated during Option Period, Buyer couldn’t obtain financing, Contingency fell through, etc.). I’d be happy to check on a specific property you want more information on.
What does active mean on real estate listing?
Active. The property is listed and actively accepting offers. Active Under Contract. The seller has accepted an offer with contingencies, but may accept backup offers. Pending.
What is the difference between active option and active contingent?
What’s the difference between active contingent and active option contract? These two terms are on the same side of the coin. The difference between them is essentially timing. In an Active Contingent Contract, the buyer has already looked at the house and submitted an offer.
What happens when a house goes under contract?
Under contract means that a seller has accepted an offer on the property, but the sale is not final until all contingencies are met. In some instances, a buyer may make the sale of the home contingent upon the sale of their current home so they don’t have to deal with multiple mortgage payments.
What does active offer mean?
Active with Offer is when there is an accepted offer, but the seller is seeking backup offers in case the buyer falls through. The seller is still showing the property and taking secondary offers. Offers must be updated within 48 hours of acceptance.
What does active under contract no kick out mean?
A “kick-out” clause is sometimes used if a seller wants to reserve the option to accept a better offer, once the property is under contract. A “no kick-out” clause means that the seller relinquishes this option once his/her home is under contract.
Can buyer back out day before closing?
Can You Back Out Of Buying A House Before Closing? In short: Yes, buyers can typically back out of buying a house before closing. However, once both parties have signed the purchase agreement, backing out becomes more complex, particularly if your goal is to avoid losing your earnest money deposit.
Can you lose a house under contract?
When the seller and buyer don’t agree on amendments, the pending sale can be canceled. If the seller agrees to repairs and fails to make them on time, the contract can also be terminated. Note: A mortgage lender’s appraisal can also request minor home repairs before closing.
Can a seller accept another offer while under contract?
A seller cannot accept another offer if the listing became “in-contract.” A home is “in-contract” after the buyer and the seller have signed the contract. The buyer needs to pay the downpayment at the time of signing.
Can you buy a house that is already under contract?
Can You Make an Offer on a House That Is Under Contract? You can still make an offer on a home that is under contract. Many real estate agents will accept backup offers on under contract properties in case the current sale falls through. Under contract listings can be listed as “show” or “no show” properties.
