Monday, May 22, 2023 / by Blair Hayes
If you’ve been shopping for homes online and see a house listed as “Under Contract,” you may have wondered what that meant.
Simply put, this means that the seller of a home has accepted an offer from a buyer. Though the sale hasn’t closed yet, each party is working toward fulfilling the terms of the agreement so that the sale can close and ownership be transferred to the new buyer of the home.
Once a seller has accepted an offer and gone under contract, they cannot accept another offer over that one even if it means more money for the sale.
Written by Blair Hayes, REALTOR®
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