When browsing real estate websites, you may come across a listing that says « home for sale active under contract ». This can be confusing to those who are new to the world of real estate. So, what does it mean?
In simple terms, a home that is active under contract means that the property is still listed for sale, but a sales contract has already been signed by the seller and a buyer. This means that the home is no longer available for showings or offers, but the sale has not yet closed.
During this time, the buyer has a certain amount of time to complete any necessary inspections and finalize financing. If everything goes smoothly, the sale will eventually close and the property will be marked as sold.
So why would a property still be listed as active if it`s already under contract? There are a few reasons for this. First, it gives the seller a backup option in case the sale falls through. If the buyer backs out, the seller won`t have to relist the home from scratch. Additionally, it allows other potential buyers to see that there`s already interest in the property, which may encourage them to make a more competitive offer.
If you`re interested in a home that`s listed as active under contract, you can still reach out to the seller`s agent to express your interest. They may be open to accepting backup offers, which would be considered if the current contract falls through. However, it`s important to keep in mind that the original buyer has the first right of refusal on the property.
In terms of SEO, it`s important for real estate agents and websites to include the phrase « home for sale active under contract » in their listings. This will help potential buyers understand the status of the property and can improve the listing`s search rankings for relevant keywords. It`s also important to keep the listing updated as the status changes, to avoid any confusion or frustration for potential buyers.
In conclusion, a home that`s listed as active under contract means that the property is still for sale, but a contract has already been signed by the seller and a buyer. While the property is technically off the market, it`s important for the seller to keep it listed as active in case the sale falls through or to attract backup offers. For potential buyers, it`s worth reaching out to the seller`s agent if you`re interested in the property, but keep in mind that the current buyer has the first right of refusal.