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The phrase "already under contract" is correct and usable in written English.
It can be used to indicate that an agreement or contract has been established prior to the current discussion or situation.
Example: "We cannot proceed with the negotiations because the property is already under contract."
Alternatives: "currently contracted" or "previously agreed upon".
Exact(60)
Acambis is already under contract to produce 54 million doses.
Mr. Barry said 32 were already under contract.
IBM is already under contract to deliver a separate machine to Livermore in 1999.
To see our guidelines for manuscript preparation for projects already under contract, click here.
Massa's team-mate Fernando Alonso is already under contract until 2012.
A Trump spokeswoman would not say how many apartments were already under contract.
By then, he was already under contract to the Shanghai Sharks youth team.
Its use will be limited to players already under contract as of July 1, 2011.
Mr. de Jonge has a second book, with the same protagonist, already under contract.
White is, in many ways, like Williams -- but three years younger, and already under contract.
It will also seek repayment of excess charges on the planes already under contract.
More suggestions(16)
yet under contract
now under contract
still under contract
previously under contract
currently under contract
well under contract
even under contract
originally under contract
again under contract
already under pressure
already under strain
already under arrest
already under development
already under way
already under discussion
already under construction
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com