If you`re in the market for a new home, you may be wondering if it`s still possible to view a house that is under contract. The answer is not a straightforward yes or no. It depends on the specific circumstances of the contract and the seller`s wishes.
First, let`s discuss what it means when a house is under contract. When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale. The contract will typically include a contingency period during which the buyer can conduct inspections and finalize financing. During this time, the house is considered to be under contract, but the sale is not yet final.
So, can you still look at a house if it is under contract? It depends on a few factors:
1. The seller`s wishes
Some sellers may be willing to allow potential buyers to view the house even while it`s under contract. This could be because they want backup offers in case the current contract falls through, or they want to generate interest and possibly even start a bidding war. If you`re interested in a house that is under contract, it`s worth asking the seller`s agent if they are allowing showings.
2. The terms of the contract
The contract between the buyer and seller may include a clause that prohibits showings while under contract. This is rare, but it`s possible. If the contract does include such a clause, the seller is legally obligated to honor it.
3. The buyer`s right to privacy
Even if the seller is willing to allow showings while under contract, the buyer may have the right to decline. During the contingency period, the buyer is typically allowed to conduct inspections and finalize financing without any interference. If a potential buyer were to view the property during this time, it could be seen as interfering with the buyer`s right to privacy.
In summary, it is possible to view a house that is under contract, but it depends on the specific circumstances. If you`re interested in a house that is under contract, it`s important to speak with the seller`s agent and determine if showings are allowed. If showings are allowed, be respectful of the buyer`s right to privacy during the contingency period. And if showings are not allowed, it`s best to wait until the contract is either terminated or finalized before pursuing the property.
