When browsing real estate listings, you may come across the phrase “under agreement with” and wonder what it means. This term indicates that a buyer has made an offer on a property and the seller has accepted it, but the sale has not yet been completed.

Essentially, “under agreement with” is a status update for a property listing. It lets potential buyers know that while negotiations are in progress, the property is not yet officially sold. During this time, the buyer typically has a certain number of days to conduct inspections and secure financing for the purchase.

Once all of the terms of the agreement have been met, the sale can proceed to closing. At closing, the buyer will officially become the new owner of the property.

It`s important to note that “under agreement with” does not necessarily mean that the sale will go through. Occasionally, a buyer may back out of the deal during the inspection period or financing fall through, causing the sale to fall apart. In that case, the property would once again be available for sale and the status of the listing would change accordingly.

If you`re interested in a property that is “under agreement with,” it`s still worth keeping an eye on it in case the deal falls through. You can also work with a real estate agent to submit a backup offer in case that happens.

In summary, “under agreement with” means that a buyer has made an offer on a property that the seller has accepted, but the sale has not yet been completed. It`s a temporary status update for a property listing that indicates negotiations are still in progress.