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when on the homepath website what does under contract mean on the listings?

  • Question refers to 25432 Kuffel Rd, Romoland, CA 92585
  • March 10 2010
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Answers (9)

Under Contract means that the seller has accepted an offer, but have not closed escrow.

  • April 20 2014
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Don't buy homepath homes
  • April 20 2014
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Under contract means they have signed a contract and are welling the property to someone.  It means they are in escrow.  It means it is time to move on to the next property if you are not the one under contract.
  • October 08 2011
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Profile picture for luvmyru
We are been under contract to buy a Homepath house now for about a month. We are going with a mortgage through our credit union because the interest rates are lower than the Homepath loans. But if the Homepath program is better for you (lower down payment, higher interest rate), that's great. However, just yesterday our home reappeared as "Back on Market" even though our contract is still active.  Our Fannie Mae rep said it is just a glitch in the system, and neither agent seems to concerned about it. Many real estate sites show a home as available right up until the closing date, in case the deal falls through.  As long as you are in a valid contract, there's nothing to worry about.
  • September 30 2011
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Under contract means an offer has been accepted on the home. I would watch it to see if it goes to closing. Sometimes a home doesn't close for a number of reasons. If you find a home that has a contract on it, just keep your eye on the status. It could change. Thank you for your question.
  • September 28 2011
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Profile picture for MelanieScalera
@ Andrew....Are you saying that in order for your offer to be accepted, you have to have Homepath financing marked in your contract? I just lost a "bid" to another party, and had conventional loan marked; as that was my approval letter was for...however, I was thinking about going with the homepath renovation loan.
  • September 28 2011
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"under contract" means the seller and a buyer have agreed to the terms of the sale of the property and have signed a contract that binds each party to the terms.  However, the status may be such that the buyer has not yet removed contingencies, which means the seller may be accepting back up ooffers.  Rather than contacting the listing agent yourself directly, I strongly recommend you select a good agent to represent you exclusively.  Remember that the listing agent has a contract with the seller, whereby that agent has a fiduciary duty to get the best possible price and terms for the seller.  While many listing agents are eager to also represent the buyer bbecause they can "double end" the sale, and thus get double commission, the buyer then has no agent advocating for them eexclusively.  Don't be sweet-talked by a listing agent who offers to contribute some of their comission if you, as a buyer, will allow them to represent you as well as their seller.  It could be a very costly mistake for you.
  • June 17 2010
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If your are interested in a home on the Homepath Website that is under contact I would contact the listing agent and let them know you are interested in the home if the deal falls through. I see all the time homes on the Homepath website relisted as back on market.

Many times the financing falls apart becuase the person handling the loan doesnt qualify the borrowers properly by not putting them into a Homepath mortgage and using FHA or conventional financing. If you are putting an offer in on a Homepath property and your loan officer is trying to get you an FHA or conventional loan ask why or run!!!!!
  • June 17 2010
  • 4Yes

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  • FDC
  • 2659 contributions
It means it is in the process of being sold. But it may fall through.
  • March 11 2010
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