As you navigate the exciting journey of searching for your dream home, you might come across listings on Zillow or similar platforms that catch your eye, only to find they are already under contract. However, this doesn't necessarily mean all hope is lost. In this guide, we'll explore what different contract statuses mean and how you, as a buyer, can still potentially secure the home you're interested in.

1. Understanding Contract Statuses

When a house is under contract, its listing status might be updated to reflect one of the following:

• Contingent: Accepting Backup Offers
• Pending

These statuses indicate the seller has accepted an offer, but the sale is subject to certain conditions or contingencies that must be met before the deal can close.

2. Timing is Everything

If you find a home that's recently gone under contract, pay close attention to the date of the status change. The initial two weeks after a house goes under contract are crucial due to the common contingency of a home inspection, which is typically completed within this timeframe.

<aside> <img src="/icons/thought-dialogue_red.svg" alt="/icons/thought-dialogue_red.svg" width="40px" /> How to Proceed:

• If the status changed within the last two weeks, it might still be possible to view the house and express interest. Sellers might be open to backup offers during the inspection period, as deals can sometimes fall through.
• Contacting the listing agent through your own realtor can allow you to schedule a viewing and potentially place a backup offer. </aside>

3. Placing a Backup Offer

A backup offer is your way to be next in line should the initial deal not close. Here's how it works:

• Appealing Offers: Your backup offer doesn't need to be excessively high but should be competitive enough to be considered seriously by the sellers.
• Negotiation: Like any offer, it can include negotiation on terms and price.
• Priority: If the primary offer falls through, your backup offer, if accepted, puts you first in line to purchase the property.

4. First Right Contingency

Some contracts include a "first right" contingency, meaning the current prospective buyer must sell their existing home before completing the purchase. This presents a unique opportunity:

• Viewing and Offering: Similar to other scenarios, you can view the property and make an offer.
• Seller's Preference: If the seller is eager to sell and prefers not to wait, your offer might be more appealing.
• Time-Bound Decisions: The initial buyer may be given a timeframe (e.g., 72 hours) to remove the contingency or risk losing the property to the next offer.

5. Viewing Importance