what does active under contract mean in realty
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What does active with contract mean? Active a with a contract means the property is UNDER CONTRACT or in the process of being sold. However, there are contingencies in ALL realestate contracts, that may prevent the sale. ie: The contract is contingent upon buyer getting a mortgage or contingent unpon the home passing an inspection or being appraised at the appropriate value.
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Real Estate Agent Real Estate Agent. What is a 'Real Estate Agent'. Real estate agents are licensed professionals who represent buyers and sellers in real estate transactions. Most agents work for a real estate broker or Realtor who has additional training and extra certifications.
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- INDEPENDENT CONTRACTER. : Independent Contractor represents that he or she is a duly licensed real estate salesperson or broker in the state of California and will maintain their real estate license in good standing with the California Department of Real Estate during the term of this agreement.
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How Long Is a Real Estate Listing Contract? A real estate listing contract is a written agreement between you and a real estate agent that offers the agent a commission for selling your home. To earn the commission, the agent agrees to market the home and to handle the sales transaction.
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"What does UNDER CONTRACT""! mean in real estate?" generally speaking, under contract means that the buyer and seller have agreed to the terms of a real estate purchase agreement.
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- For Sale: Properties which are available for showings and purchase. Active Contingent: Properties which are available for showing but are under contract with another buyer. Pending: Properties which are under contract with a buyer and are no longer available for showings. Sold: Properties on which the sale has closed. Contingent and Pending statuses may not be available for all listings.
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Home Buying Without a Contingency to Sell an Existing Home In northern California, this type of status could be called Active with a Release Clause. It's basically a kick-out clause that says if the seller receives an acceptable back-up offer, the seller has the right to give the existing buyer 72-hours notice minimum to release the contingency to sell or cancel the contract.
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RE49R05: Dual Agency Listing Contract (also called Listing Agreement)- A real estate broker (or agent, acting on behalf of the broker) and a seller sign this agreement in order to give the broker the rights to advertise the property and represent the seller.
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- » Alex's Picks. A real estate contract is a legally binding agreement between a buyer and seller concerning title to property. Since contracts play such an important role in the real estate marketplace, real estate investors must have a thorough understanding of the fundamentals of contract law.
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Sales Pending Vs. Under Contract Business owners buy real estate for a variety of reasons. As an owner, you may opt to purchase the office building housing your company. You may purchase your company's warehouse or distribution facility and lease it back to the company. When searching for properties to buy, you must be cognizant of those that are still listed for sale but say sale pending -- this means that a piece of real estate is under contract.
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What Does it Mean If a Piece of Real Estate Is Under Contract? In the event you are in the position to make a contract offer on a property that is being sold by the owner, it is best to have a real estate attorney assist you with making a contract offer. While real estate companies offer many helpful services and protections to a buyer, working directly with a seller can be safely done when legal guidance is provided.
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- Performance of Your Real Estate Broker. If you're going to hire a real estate broker or agent to sell your property, you'll probably be signing a real estate brokerage contract or listing agreement. This contract sets out specific terms of sale as well as the specific actions your broker will take in selling your property.
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- For Sale: Properties which are available for showings and purchase. Active Contingent: Properties which are available for showing but are under contract with another buyer. Pending: Properties which are under contract with a buyer and are no longer available for showings. Sold: Properties on which the sale has closed.
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- Definition of Active Contingent. Active contingent is when a home seller has received an offer from a buyer, but the buyer needs to meet certain conditions before the sale can be finalized.These conditions may include a home inspection or getting approval on a mortgage loan.ctive Contingent. Active contingent is when a home seller has received an offer from a buyer, but the buyer needs to meet certain conditions before the sale can be finalized.
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The Basics of Real Estate Contracts A real estate sales contract is a bilateral (two-way) agreement. The seller agrees to sell, and the buyer agrees to buy. Compare this with an option; an option is a unilateral (one-way) agreement in that the seller is obligated to sell, but the buyer is not obligated to buy--it is his option to do so.
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How to Make Money With Real Estate Options A real estate option is a specially designed contract between two parties (a buyer and a seller). The seller offers the buyer the option to buy a property, for a specified period of time at a fixed price. The buyer purchases the option to buy or not buy the property during the specified time period.
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What does active contingent mean? It means there is a contract on the house but that contract is still contingent--meaning there are contingencies that need to be satisfied such as the home inspection, appraisal and or loan approval.n most cases it means there is a buyer who has a contract to purchase the house but it is contingent on something. The majority of contingincies are buyers selling a home to purchase the new property. Your agent can ask the listing agent what the contingincy is before viewing the property.
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"What does ""option pending"" mean on a real estate listing?" In our MLS. that means that a contract has been accepted and is binding. The buyer has paid for an option period so they can have inspections done and back out if they feel they need to. That option to back out is what they call option pending. contract to lease with an option to buy, called a lease purchase or lease option agreement, is a typical rental agreement but for the option clause.
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"What does ""contingent"" mean when looking at listings? I have seen a few houses with that statement and wonder if they are still available." Active contingent is when a home seller has received an offer from a buyer, but the buyer needs to meet certain conditions before the sale can be finalized. These conditions may include a home inspection or getting approval on a mortgage loan.
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"What does ""For Sale Under Contract"" Mean?" it means they will accept a land contract for the sale. It means that an offer has been accepted. You can still make a secondary offer on the home but it will not be presented to the seller until and unless the first contract falls through, at least in the US.
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- The words “under contract” don’t necessarily mean that a property sale is a done deal. When you’re browsing online real estate listings, coming across the words “under contract” can feel like a kick in the guts.
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- Example: Since real estate contracts are required to be in writing, implied contracts are seldom formed in real estate. Status of Contracts Executory-When a contract is executory, it means the contract has not yet been completed. There are still obligations that must be fulfilled.
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What Does Under Contract Mean in Real Estate? Just because a property is under contract does not necessarily mean that it is off the market. Other buyers may be able to make offers on the property, depending on if there is a first right of refusal clause in the contract.
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Mortgage Contingency Clause in Real Estate Home Purchase Contract Active Contingency Provision. Typical terms in a purchase contract include an active contingency waiver. This contingency waiver is a provision in a contract requiring the buyer in writing to “cancel” a specified condition such as a loan financing commitment for the property’s purchase, for the sale to go forward. mortgage contingency clause is a provision in the home purchase contract saying that if the prospective buyer cannot get a mortgage within a fixed period of time with the specified terms, the buyer can call off the whole deal and get back his deposit.
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How to Sell Your Own Home: Secrets From a Former Realtor Hello, The home is under contract, and the owner has accepted an offer, though the home may not have closed yet (title has not transferred to the new owner)The owners do not typically continue showing the property during this period.
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The difference between a real estate agent and a Realtor, explained All real estate agents must pay an annual licensing fee and renew them every one or two years, depending on the state. In some states, agents may have to complete a certain amount of continuing education courses before their licenses can be renewed. What is a Realtor, and why is that title different from real estate agent? A Realtor is a trademarked term that refers to a real estate agent who is an active member of the National Association of Realtors (NAR), the largest trade association in the United States. A Realtor is a trademarked term that refers to a real estate agent who is an active member of @NAR.