Tuesday, October 29, 2024 / by Vanessa Saunders
Understanding Real Estate Statuses: Active, Active Under Contract, and Pending in New Hampshire
Navigating the real estate market can be tricky, especially with so many terms describing a property’s availability. In New Hampshire, commonly seen terms like "Active," "Active Under Contract," and "Pending" can provide buyers and sellers with critical insight into where a property stands in the sales process. Let’s take a closer look at what these mean.
Active
When a property is marked as "Active," it’s open to all potential buyers, with no accepted offers in place. Buyers can tour, make offers, and possibly enter a bidding situation if interest is high. This is the most straightforward status and indicates the property is fully available.
Active Under Contract
"Active Under Contract" means the seller has accepted an offer, but the deal isn’t final yet. There may be contingencies in place—like inspections, financing, or appraisal—that need to be completed before the sale can proceed. This status allows the seller to keep the property listed while the buyer works to meet these conditions, and it may even allow the seller to consider backup offers. For buyers interested in these properties, this status means there could still be an opportunity to step in if the initial offer falls through.
Pending
Once a property status changes to "Pending," all contingencies have typically been resolved, and the sale is moving toward closing. At this stage, the transaction is less likely to fall through, and the property is essentially off the market. Buyers should know that a "Pending" property is nearly sold and not actively accepting new offers.
Why Knowing These Terms Matters
For sellers, understanding these statuses can help them field offers strategically, while buyers can gain insight into which properties are realistically available. In New Hampshire’s competitive market, knowing what these terms mean can prevent wasted time and allow for faster, more informed decisions.
Get the Right Listings Delivered to You
When you register on our website, Search603Homes.com, and specify your location, price range, and other needs vs. wants, we make it easy to see only the properties that match your criteria. We ensure that the correct status, ACTIVE, is all you’ll see when you’re on the hunt for your new home, saving you time and helping you stay focused on opportunities that align with your goals.
With the right insights and tools, your home search can be clear and productive from the start!