what does under contract mean on a house
If you've searched for homes through your local multiple listing service, you may have come across various terms that describe the property's sale status. An active listing means the house is on the market and available for purchase. A pending sale is one thatâs moving toward closing. An under contract status means thereâs an accepted offer on the house, but the sale is still in an early, and perhaps precarious, stage. A valid contract must meet four criteria.