Real Estate Glossary

Under Contract

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Term Main definition
Under Contract

A property for which a purchase offer has been accepted by the seller is said to be "under contract." Generally, the prospective buyer is given a certain period of time in which to perform feasibility studies and finalize financing arrangements. During the time, the seller cannot entertain offers from other buyers unless the purchase contract is allowed to expire without going to closing.

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San Francisco Property Management

47 Kearny Street
San Francisco, CA 94108


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California DRE #01183885