What is the difference between pending and active under contract in real estate?

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.

Is under contract the same as pending?

UNDER CONTRACT – indicates a property where an offer has been written and accepted by both parties. … Many things can go awry during the under contract period and a fair number of homes will come back on the market. PENDING – means that all of the above have been satisfied.

Which is better pending or under contract?

What does pending sale mean? This means that the home is under contract and all contingencies have been removed. A pending sale is further down the home buying timeline than a property that is under contract. Many seller’s agents will not continue accepting offers on homes once they have gone pending.

Can a realtor show a house that is pending?

Realtors can continue to show a house that is pending. … If this is the case, sellers will allow the Realtor or real estate agent to show the property during closing. Due to the many reasons a pending sale can fall through, it is not uncommon for sellers to continue to show the property.

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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.

How long can you keep a house under contract?

The most common time period for settlements in different states is 60 days, except in New South Wales where it is 42 days.

Can a seller still show house under contract?

A home can still be shown, even if you have a contract signed by the seller. If inspections, the appraisal and your mortgage approval go as planned, the home is as good as yours because you’re under contract. … However, a seller can’t cancel on you simply because they receive a better offer.

Can you outbid a pending offer?

Do not try to outbid the current pending sale; as stated above, this is a no-win situation. Simply bid what you would have bid on the property anyway considering the home value, the location, and the botional tie that you may have to the house.

What happens if a house is 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. It typically takes 4 – 8 weeks from the date the offer is accepted until the sale is complete.

Can a seller back out of a contract?

To put it simply, a seller can back out at any point if contingencies outlined in the home purchase agreement are not met. These agreements are legally binding contracts, which is why backing out of them can be complicated, and something that most people want to avoid.

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Does Zillow show houses under contract?

Online Under Contract Listing Statuses

Once the status is changed in MLS, this data is fed to national websites like Zillow.com, Realtor.com, and Trulia.com. … ‘ All of these terms mean that the listing is ‘Under Contract‘ with a buyer.

What does it mean under contract pending?

For a home to be listed as pending, that means the home is under contract and there are no longer any contingencies on the sale.