What Does Under Contract Mean When Buying A House at Buying

What Does Under Contract Mean When Buying A House. A few key things to know about a property that’s deemed “active under contract:” For this article, we focus on executing the contract.

The buyer has made a formal offer and the seller has accepted. If the seller decides to choose active under contract they are continuing to allow other buyers into the home in hopes to receive a backup offer. As with a contingent property, a home that is active under contract is one where the buyer and the seller have agreed to terms, but the deal is still in its early stages and may not come to fruition.

That puts this term at about step 7, above. As a buyer, you put an offer on a house that’s under contract just as you would if you were the first interested party, negotiating until. When a real estate listing says it's “under contract,” that means a buyer has made an offer and the seller has accepted. As with a contingent property, a home that is active under contract is one where the buyer and the seller have agreed to terms, but the deal is still in its early stages and may not come to fruition.