Active & Under Contract: What Does This Even Mean?!

November 11, 2020

You’ve heard the terms Active and Under Contract, but what do they even mean?! …Active means that this listing is in the MLS (Multiple Listing Service) is available for showings/views. In 99% of all cases, if a property is listed as active, you’re able to see the home with your agent. …When a buyer submits an offer on a home and the seller accepts the offer, the property officially has gone “under contract”. This means that the listing is no longer open to the public. The listing agent will turn off the ability for any other buyers to see the property. Once the property is under contract, another buyer cannot submit an offer for review by the seller. However, in some cases you can submit a backup offer which means if the property where to come back on the market, your offer would be first in line! #KELSEAWITHAFRENCHIE#HOMESELLERS#REALESTATETIPS#HOMEBUYER#DENVERREALESTATE

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