Searching for a home to buy can be a time of excitement and anxiety. You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” You wonder, what’s the difference between under contract versus pending? Can you make an offer on a home that’s under contract? What buyer contingencies might put a listing back on the market? What home contingency missteps should you avoid when making an offer? In this post, we’ll explain terms like “under contract,” “sale pending,” and “active under contract” and how they might impact your home-buying journey. When you find a home listing marked as “under contract,” it indicates that the seller has accepted an offer from a buyer, but the sale is not yet final. While under contract, there are typically contingencies in the buyer’s offer that need to be resolved before the sale moves forward. If contingencies are not met, the deal might fall through. Here are some common types of contingencies in residential home sales: While a home is under contract, it’s still possible, though less likely, for other offers to be considered. If contingencies fall through and the initial deal collapses, the property may become available again. However, it’s important to have realistic expectations and continue exploring other options in your home search.What does ‘under contract’ mean when buying a home?
Contingencies while ‘under contract’
Can I make an offer on an ‘under contract’ home?