---
title: Real Estate Master Terms [Home-Buying Guide]
description: Understanding the housing market as a home-buyer
image: https://university.hometraq.io/hubfs/Stock%20images/Happy%20family%20holding%20poster%20of%20a%20house%20for%20sale-3.jpeg
---

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## [Real Estate Master Terms \[Home-Buying Guide\]](https://university.hometraq.io/real-estate-master-terms-home-buying-guide)

 Mar 10, 2020 4:20:50 PM / by [Brett O'Daniell](https://university.hometraq.io/author/brett-odaniell)

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![Happy family holding poster of a house for sale-3](https://university.hometraq.io/hs-fs/hubfs/Stock%20images/Happy%20family%20holding%20poster%20of%20a%20house%20for%20sale-3.jpeg?width=1000&name=Happy%20family%20holding%20poster%20of%20a%20house%20for%20sale-3.jpeg)

 

You have found it! you have FINALLY found it.....the home that has everything. Four bedrooms, a big yard, and that perfect white picket fence. You call up to view the property, giddy with excitement.... the agent picks up and you ask to tour the property

**"That property is active under contract"**

What does that mean? Why are they marketing it? Here we will go over some of the statuses and what they mean.

 

**Active**

Red hot and ready to sell, they have not accepted any contract.

**Active under contract.**

For properties that have accepted a contract but the seller has instructed the agent to keep marketing in order to obtain a backup offer.

- With Kick-out means the seller is able to terminate the current contract for the back-up.
- With out Kick-out this is purely for a backup and not to have the option to terminate the            current contract.

**Pending**

For a property that has accepted a contract and the seller has instructed the seller to cease marketing or even showing the property. There will still be normal contractual conditions that could affect the outcome of the sale.

 

**Closed**

These are properties that have been sold/leased. This represents the legal transfer of the property and not dependent of the broker compensation.

 

**Hold**

Properties that are not being marketed for a period of time but can still have an agreement put in place.

 

**Withdrawn**

For properties taken out of the system prior to expiration but still have some listing broker rights. It will remain in this status until they move to expired status.

 

**Expired**

The property has exceeded the listing period and so has expired.

**What we do?**

[HomeTraq provides you with the superior home-hunting experience.](https://hometraq.com/) Create a free account and tour any home within 3-5 minutes. A realtor will meet you there. No commitment. No payment. No obligation.

 

[![See It Now](https://no-cache.hubspot.com/cta/default/5556799/8e7d7afa-3ad2-430e-85a4-f0ab48d78ab2.png)](https://cta-redirect.hubspot.com/cta/redirect/5556799/8e7d7afa-3ad2-430e-85a4-f0ab48d78ab2)

 Topics: [home shopping](https://university.hometraq.io/topic/home-shopping), [real estate](https://university.hometraq.io/topic/real-estate), [house hunting](https://university.hometraq.io/topic/house-hunting), [home purchase](https://university.hometraq.io/topic/home-purchase)

![Brett O'Daniell](https://university.hometraq.io/hs-fs/hubfs/BrettODaniell.jpg?width=100&height=100&name=BrettODaniell.jpg)

#### Written by [Brett O'Daniell](https://university.hometraq.io/author/brett-odaniell)

Co-Founder of HomeTraq. 18+ years real estate and mortgage experience.

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