When browsing for homes on Zillow, it can be exciting until you see a property marked as “under contract.” While this may seem disappointing, it doesn’t mean you can’t still make an offer. The chances of your offer being accepted, however, are slimmer at this stage.
Listings on Zillow start as “active,” then change to “under contract” once a buyer’s offer is accepted by the seller. This status indicates that the buyer and seller have agreed on the price but other conditions like financing approval and home inspections are still pending.
While both parties are committed to the deal once a house is under contract, if the contingencies are not met, the buyer or seller can walk away. In such cases, sellers may accept backup offers from other buyers. Therefore, if you find a home you love that’s under contract, there is still hope.
Can you make an offer on a house that’s under contract?
Sellers can choose to consider other offers while the house is under contract. A “contingent” status is similar to “under contract,” where certain conditions must be met. If the house is listed as “active under contract,” you can still make an offer as it’s still active on the market.
While your offer will be considered a backup until the first one falls through, offering above the asking price can make your offer more appealing. Although the chances of success are lower, it’s worth a try.
Waiting it out can also be beneficial as a significant number of houses under contract don’t close. Understanding why the first offer failed can help you make a stronger offer if the house goes back on the market.
When is it too late to make an offer?
The “pending” status on Zillow means the sale is nearing completion, and new offers are generally not accepted. This phase lasts a short time, and the house is essentially off the market.
An exception is if the house is listed as “pending more than four months,” indicating a longer sale process. New offers may still be considered in such cases. However, if a house is listed as sold on Zillow, it’s no longer available for purchase.
