Found 1 blog entry tagged as pending.

What "Under Contract" Means in Real Estate

If you've been browsing home listings, you've likely noticed some properties marked as "under contract" or "pending." These terms signal an important shift in the home-buying process, and understanding what they mean can help you navigate your search more effectively—whether you're buying or selling.

The Basic Definition

When a property is "under contract," it means the seller has accepted an offer from a buyer, and both parties have signed a purchase agreement. However, the sale isn't final yet. The transaction is now in a period where certain conditions—called contingencies—must be satisfied before the deal can close.

Think of it as a commitment with conditions. The buyer and seller have agreed…

164 Views, 0 Comments

Read Full Post