Under contract
Same as pending. The seller has accepted an offer and the deal is working through inspection, financing, and closing.
Your Room opens on this part of the sale, with the offer and everything before it already ticked.
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See how it worksWhere this comes up in a sale, and what follows
- Review offers and negotiate (comes before)
Part 1 of 4
Why a seller cares
It is the stretch between a signed offer and closing, and it has the most deadlines of the whole sale: inspection, appraisal, financing, title. Most sales that fall through fall through here.
Part 2 of 4
A simple example
Signed on the 1st. Inspection by the 10th, appraisal by the 20th, loan commitment by the 30th, closing on the 45th day. Each date is in the contract.
| The deadline | What is decided by it |
|---|---|
| Day 10, inspection | Whether the buyer accepts the house or asks for something |
| Day 20, appraisal | Whether the loan covers the price |
| Day 30, loan commitment | Whether the buyer has a loan at all |
| Day 45, closing | Whether the sale is done |
Under contract is a calendar. Each date shuts one door the buyer could leave through.
Part 3 of 4
What people get wrong
That under contract means sold. It means promised, and the promises come with deadlines.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
In your Room, this word explains itself where it appears.
Your Room defines under contract in the step you meet it in, beside the document or the date it belongs to. Free to set up, with an agent or on your own.
Organize my saleFree to set up. Pay once when you list: $89 or $189. 7-day refund.