under contract

Definition

The period of time during which a buyer's offer to purchase a property has been accepted, and the buyer is able to finalize financing arrangements without the concern of the seller making a deal with another buyer.

Use under contract in a sentence

That house we looked at the other day is already under contract so we can't make an offer on it.

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After being burned twice already, I am hopeful the seller will not tell me the property is already under contract.

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You should make sure that you are doing what is asked of you if you are working under contract for another company.

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under construction backup offer