Under Contract DOES NOT mean Sold!
I had somebody tell me yesterday…
We were waiting for their house to get under contract because the purchase of this other house is contingent upon the sale of their house — happens all the time.
She called me and said, “Cori, we sold our house!”
I was like, “Whoa, whoa… wait a second! Didn’t y’all just put it on the market two weeks ago?”
And she said, “Yeah we did. We had several offers…and you know, we sold our house.”
“Did you close and they gave you the money? Or are you meaning that you got it under contract?”
And she said, “Yeah, yeah, yeah, we got it under contract!”
And I always say hold up a second, that is two totally different things!
Make sure you get your terminology correct!
Sold means that everyone has signed on the dotted line at the closing table and funds have been exchanged.
Under contract just means it’s under contract.
- Cori Radley