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Property under contract

  • January 31, 2026
  • 1 reply
  • 16 views
LMont68

Hi Lais,

 

Here is a question.  When folks say do I have that property under contract what do they mean?  Where can I get such a contract? What is the associated costs? And is there a script or process I follow do getting that accomplished.

Normally if someone is motivated, I want to ensure the home, the deal, the rehab, the renter, and your exit strategy, will work.   How do you know when it’s the right deal. because I am definitely not a sales person.   
 

I am finding having a check list for each process will help me keep things straight.  But having the right one is paramount before doing any deal.  

 

thanks again for you support and knowledge. 
 

Luis
 

 

February 2, 2026

Hi ​@LMont68,

Great questions — this is a very common point of confusion when getting started.

When a property is “under contract,” it means the seller has signed a purchase agreement with a buyer, but the deal hasn’t closed yet. The contract itself is usually a standard real estate purchase agreement, typically provided by a local title company, real estate attorney, or an investor-friendly template specific to your state.

There isn’t a single script that fits every situation, but the key is making sure the numbers work. A simple checklist usually helps: purchase price, estimated rehab, ARV, holding costs, and your exit strategy. If those line up conservatively, it’s generally a deal worth pursuing.

You’re on the right track by wanting to understand the process before doing your first deal — keep asking questions and learning.

Hope this helps!

Luis J Montero

      1 reply

      Elory
      Forum|alt.badge.img+1
      • Elory
      • Customer Support Team Lead
      • February 2, 2026

      Hi ​@LMont68,

      Great questions — this is a very common point of confusion when getting started.

      When a property is “under contract,” it means the seller has signed a purchase agreement with a buyer, but the deal hasn’t closed yet. The contract itself is usually a standard real estate purchase agreement, typically provided by a local title company, real estate attorney, or an investor-friendly template specific to your state.

      There isn’t a single script that fits every situation, but the key is making sure the numbers work. A simple checklist usually helps: purchase price, estimated rehab, ARV, holding costs, and your exit strategy. If those line up conservatively, it’s generally a deal worth pursuing.

      You’re on the right track by wanting to understand the process before doing your first deal — keep asking questions and learning.

      Hope this helps!

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