Houses under Agreement in Andover Ma

If you`re in the market for a new home in Andover, Massachusetts, you may have come across the term «houses under agreement.» But what does this actually mean, and why is it important to understand?

When a house is listed as «under agreement,» it means that the seller has accepted an offer from a buyer, but the sale has not yet been completed. The home is essentially off the market, but the deal has not yet been finalized. This is different from a «pending» status, which means that all contingencies have been met and the sale is in the final stages of closing.

Understanding the status of a home is important for both buyers and sellers. For buyers, seeing that a home is under agreement can be a bit disheartening, especially if it`s a property they were interested in. However, it`s important to remember that deals can fall through for a variety of reasons, from financing issues to inspection problems. If the deal does fall through, the home will be back on the market and available for new offers.

For sellers, having their home under agreement can provide a sense of relief, as it means they have a serious buyer interested in their property. However, it`s still important to continue showing the home until the sale is finalized, as anything can happen during the closing process.

So, what does this mean for those looking for houses under agreement in Andover, MA? It means that these homes are currently off the market, but that doesn`t mean they won`t be available again in the future. It`s always a good idea to keep an eye on homes that have recently fallen through and may be back on the market soon.

Additionally, understanding the status of a home can also help inform your search. If you`re looking for a home that`s ready to move into immediately, you may want to focus on properties that are currently pending or have already closed. On the other hand, if you`re willing to wait for the right home and want to keep an eye on properties that have potential, houses under agreement could be worth keeping in mind.

Overall, understanding the different statuses of homes in the market can help you make informed decisions as a buyer or seller. While houses under agreement may be off the market for the time being, they may still be worth keeping an eye on for the future.