Question: Can A Realtor Continue To Show A House Under Contract?

What does under contract continue to show?

Hi Ben.

Under Contract – Continue to Show is a status that we as Realtors use when the property we had listed has an agreed upon contract.

That contract is being held at a Title Company with Earnest Money attached.

It also means that other buyers may go and see the home, accompanied by their Realtor..

What does under contract allow showings mean?

“Active Under Contract” is a real estate term that indicates the status of real property (single family home, condo, townhome, etc.) that has been put up for sale wherein a seller has accepted an offer from a buyer, but the deal has not yet closed.

What is the difference between pending and under contract?

The home is under contract and all contingencies have been removed (that is, the requirements met). Basically, a sale pending property is much closer to being sold than an under contract property. …

Can Realtor tell you other offers?

Most real estate agents don’t disclose offers to other buyers. … Legally, agents in NSW are allowed to disclose current offers to any other potential buyers. Agents are required to inform the seller of all offers made to purchase the property, but there is no law to prohibit the disclosure of offers to potential buyers.

How long can you keep a house under contract?

That said, the length of the settlement period typically lasts between 30 and 90 days. The most common time period for settlements in different states is 60 days, except in New South Wales where it is 42 days.

What happens after a house is under contract?

When an offer has been accepted, or an auction has been successful, the buyer and seller sign the contract, and the property is taken off the market. The buyer will then have to pay a deposit, normally 10 per cent of the purchase price, although in some cases this can be negotiated.

Can you still view a house if it is under contract?

You will see properties under contract still being advertised for sale on real estate websites. This is because the contract could fall through anytime under various situations as explained above. If that happens, the property could still be back in the market for sale.

Can the seller of a house cancel the contract?

Just like buyers, sellers can get cold feet. … But unlike buyers, sellers can’t back out and forfeit their earnest deposit money (usually 1-3 percent of the offer price). If you decide to cancel a deal when the home is already under contract, you can be either legally forced to close anyway or sued for financial damages.

Why would a house go from pending to contingent?

Contingent means the seller of the home has accepted an offer—one that comes with contingencies, or a condition that must be met for the sale to go through. Sample reasons include: Complete sale of buyer’s current home. …