What is Under Contract?
- TOCR Real Estate School
- Mar 27, 2023
- 1 min read
Being under contract refers to a prospective buyer and seller reaching an agreement on a property. At this early stage, both parties are in alignment with the terms of the deal, including the property's price and closing date.
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In real estate, the phrase "under contract" refers to when a seller accepts a buyer's offer to purchase their home. However, the location isn't taken into consideration.
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