Home Buying in Baton Rouge>Question Details

Meghan Haywo…, Home Buyer in Baton Rouge, LA

what does under contract mean?

Asked by Meghan Haywood, Baton Rouge, LA Fri Jul 6, 2012

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6
It means that an offer has been accepted when both parties have agreed. Next step is inspection. During the inspection period if the buyer finds something that is unacceptable, they can get out of the contract, and the property goes back on the market. If they find the property in acceptable condition, then the contact can move forward toward Act of Sale.
1 vote Thank Flag Link Fri Jul 6, 2012
It means an offer was accepted and signed by all parties. It is now under contract awaiting a closing.
1 vote Thank Flag Link Fri Jul 6, 2012
The seller has accepted an offer, buyer has put down earnest money and there is a fully executed contracted. Next step is a closing where transfer of deed occurs from the seller to the buyer.
0 votes Thank Flag Link Fri Jul 6, 2012
The buyer and seller have come to an agreement. Now they are preparing for a closing.
0 votes Thank Flag Link Fri Jul 6, 2012
Hi Meghan,

It means the seller has accepted and offer and all parties have signed a contract.

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Fri Jul 6, 2012
A seller has accepted An offer from a buyer and the status of the home goes to pending. Pending closing which usually takes 30-45 days.
0 votes Thank Flag Link Fri Jul 6, 2012
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