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Real Estate Under Contract. The real estate term âunder contractâ means that a binding agreement exists between a buyer and a seller involving property. The buyer and the seller are in agreement with the terms in the contract. When a property is under contract, the seller may not enter into contract with any other buyer.
You wonât want to sign your listing agreement until youâve carefully thought about how long you want the listing to be; according to your specific needs.The most important word used here is âyouâ: the length of the real estate contract is entirely up to you and shouldnât be something that you let the real estate agent dictate.