Asked by: Gemma Lenzapersonal finance options
What does active under contract mean for real estate?
Last Updated: 2nd March, 2020
Click to see full answer.
People also ask, what is the difference between active under contract and pending?
The difference between Active Under Contract and Pending Status in Bright. When a listing is in Active Under Contract, that property is under contract, but is still accepting showings and being actively marketed. This property is currently under contract and is pending settlement.
Similarly, what does contingent active under contract mean? Definition of Active Contingent When a home is listed as "Active Contingent" or "Active with Contingencies," it means the seller has accepted an offer from a buyer and a Purchase and Sale Agreement exists, but that certain conditions (or contingencies) must be satisfied before the sale can be finalized.
In this manner, can you make an offer on a house that is active under contract?
Active Under Contract Means There's a Written Offer If a buyer makes a written offer and the seller accepts it, the home is active under contract. This is how the listing will show in the MLS. It's up to the seller if they want to continue accepting bids or if they would rather wait to see if the sale goes through.
How long can a house stay under contract?
The closing stage of the home buying process typically takes 30 to 45 days (and even up to 60 days under certain markets during peak periods).