Property Under Contract

Definition of "Property under contract"

Real property being offered for sale that has received a contract for sale but has not gone to a closing. Under these circumstances, it may be possible to accept a refundable binder for sale to a different purchaser should the original contract for sale not be completed.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

(1) Wide boards, generally two inches thick, attached to flooring or roof of a structure. (2) Light gauged ribbed metal sheets used for supporting a roof or floor. ...

Not attached to any parcel of land but merely a personal right to use the land of another. ...

The term land use succession definition can be looked at from two perspectives. While the general way to define land use succession would be “changes that occur over time in the use ...

Managing property directly at its location. The management functions may include showing prospective tenants the facilities, collecting rents, and doing upkeep on the property. ...

Structure of prefabricated units. ...

A step's edge. ...

A person has the option of canceling a contract previously agreed to. ...

Expenditures incurred to improve a specific real estate development; however, these improvements are not directly on the property. Example are curbs, driveways, and streets. ...

See accommodation endorser, maker, or party. ...

Popular Real Estate Questions