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Updated over 10 years ago on . Most recent reply
What does under contract mean?
Hey everyone,
I'm new to the field, and had a quick question. I hear people say that they have something "under contract." What does that mean? Does that mean that they've made a commitment to buy the property for a certain price and the seller has agreed to it as well? What exactly is in the "contract?"
Thanks in advance!
Most Popular Reply
Karen Margrave
Professional Services
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- Realtor, General Contractor, and Developer
- Redding, CA & Bend OR
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The contract is a Purchase Contract, or any other agreement that both parties have entered into, such as a Lease with an Option to Purchase, etc. Welcome to BP! Have you seen this yet? Beginner's Guide
- Karen Margrave