Understanding Real Estate Terms Used In Houston, TX

Understand the real estate market in Houston, Texas, might be easier than you think. It’s really not rocket science. Of course, there will be jargons that intimidate you once a while but after a couple of months, you’ll be good to go. Well, that’s if you have a professional coaching you. Someone like We Buy Fast Houston Houses.

Real estateWe’re thinking you already know who we are and that’s why you’re on this page but in case you’re new here, let’s go ahead and introduce ourselves. We Buy Fast Houston Houses is a professional cash homebuyer based in Texas. We have been buying and even selling homes for some time now, so if you’re thinking of working with someone who has a wealth of experience in real estate, we should be that guy.

Anyway, let’s not get off track. Today, We Buy Fast Houston Houses won’t be talking about the businesses that we do but the real estate listing statuses that will spice up your vocabulary.

Active: what does an active property mean? This term is often used o describe my home that’s currently available. You’ll here real estate agent use this terms a lot if you’re in the market looking to buy a beautiful home for you or your family.

Closed: if you’ve spotted a property that you like only to realize that that property has already found a buyer, then we say that that house is closed. Meaning, it’s no longer available to anyone looking to make an offer. Even if your offer is too good.

Active with contract:In this scenario, things are a tad bit different. My house will be off the market but not completely off. What that means is, the seller has already found the guy with the right offer, but he or she might still consider any backup offer.

Under contract: here, the seller has already written up an offer with a qualified homebuyer but that doesn’t mean that it’s a confirmed sale.

Contingent: my home seller has accepted the offer in this case. So that means that my house has gone under contract. However, there’s a condition that has to be met before the seller closes the deal. For instance, the condition might be a home inspection. Or a title search. Anything that might be important to a buyer or a seller.

Deal pending: this phrase means everything is going as planned. The offer has been accepted and the contingencies have been met. The sale is just pending and that’s because both parties are still working on the paperwork. But the sale isn’t definite. And that’s good news to any buyer out there who still has a better offer and loves the home. it means my home sellers is allowed to accept backup offers.

Expired: this is bad news. It means the house never sold and the listing was just removed. We Buy Fast Houston Houses would never want you to go through this kind of heartbreak and that’s why we always ask you to consider our offer before taking the conventional route.

To learn more about real estate jargons, get in touch with us by filling out a form online.

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