what does pending listing mean in real estate
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? When a house is listed as pending, that means that a buyer has already submitted a contract and is currently off the market until their loan closes. If for some reason the buyer is unable to close, then the home will be placed back as active.
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- Contingent. This means the seller has accepted an offer on the property, but success may still depend on passing a home inspection or getting financing. There are different types of contingent statuses.For example, Contingent-Show means that it is still possible to tour the property and submit a backup offer in case the current one falls through.Contingent-No Show indicates that the seller no longer wishes to show the property.or example, Contingent-Show means that it is still possible to tour the property and submit a backup offer in case the current one falls through. Contingent-No Show indicates that the seller no longer wishes to show the property.
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what does the mls status us mean? US status means there is a contract on the property but the home owner wishes to continue showing the property. The advantages of this is if someone else likes the property and decide to make an offer it would be held as a backup and if the first contract false through the owner has other offers to consider.
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"What does ""Contingent"" mean for a listing status?" Most of these are self-explanatory…. 1  Active means that the property is for sale. 2  Come on over and make us an offer. 3  Subject to Inspection means that a buyer’s offer is pending their inspection. 4  The buyer will hire an inspector to make sure that there are no problems with the condition of the home.
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What Does a Pending Status on a House Mean? A pending sale typically involves contingencies -- conditions a seller and buyer must meet to complete the transaction. Buyers typically include a financing condition, an appraisal contingency for property value property, and investigation contingencies, such as title searches and inspections.
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- Other types of active statuses may be New or Price Change.. New means that the listing has been on the market for 3 - 7 days; Price Change means that the listing experienced a price decrease or increase within the past 3 - 7 days. There may be different types of active listings, depending on the MLS.
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What's under contract option pending mean? to MLS. Listings should not be changed to Sold status before the actual closing. W Withdrawn Used when a listing is taken off the market or seller requests the listing no longer be marketed in the MLS, but a valid listing agreement still exists. T Terminated Used when the listing agreement between the owner and the listing agent is
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What Do Property Status Letters Mean in Austin MLS Property is under contract and likely the buyer in the option period. Once the option period ends, the listing agent should move the home to pending. During this period, other buyers can submit a contract on the home. If your offer is accepted by the seller, your offer moves into backup position.
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Pending order A pending order is an order that was not yet executed, thus not yet becoming a trade. It can, for example, be an order that states that you do not want to buy before the price of a financial instrument reaches a certain point.
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What Does Sale Pending Mean in Real Estate? The final step is closing, which can take anywhere from a few days to a few weeks. Most agents won’t label a home Sale Pending until the buyer has removed all contingencies and the sale is a done deal. Keep in mind that a buyer can still walk away after removing all contingencies. On occasion, a buyer has an emergency and needs to exit the contract.
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What does MLS listing (T) mean? A status of T can mean they are painting, removating, going on vacation, a fmaily emergency etc where the sellers does not want to show the home for a given period of time. Sometimes it can mean that they changed their minds completely, and are just waiting for the listing to expire, so they just suspend showings till then.
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- This may be a big mistake. An attempt to shed some light on the Contingent status of a home…. Most real estate listings will have a “Status”. Example statuses include: 1  Active. 2  Subject to Inspection (STI). 3  Contingent. 4  Pending. 5  Sold.
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MLS Rules & Regulations FAQ YES, MLS rules require that if a seller has signed acceptance of an offer, the listing status must be changed to Contingent or Pending. Lender approval of a “Short Sale” is treated as a contingency and does. not change the timing of the required change to Contingent or Pending status.
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- Property is under contract and likely the buyer in the option period. Once the option period ends, the listing agent should move the home to pending. During this period, other buyers can submit a contract on the home.
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"What does ""contingent"" mean when looking at listings? I have seen a few houses with that statement and wonder if they are still available." Active contingent is when a home seller has received an offer from a buyer, but the buyer needs to meet certain conditions before the sale can be finalized. These conditions may include a home inspection or getting approval on a mortgage loan.
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What Does a Pending Status on a House Mean? Brokers must report when the status of a home for sale changes. Real estate brokers must accurately report the status of a property listing to the multiple listing service, usually spoken of as MLS. Brokers rely heavily on the MLS to market listings and find interested buyers. As a member of an MLS, a listing broker must comply with certain rules and regulations. One such rule involves specifying the status of a home as pending when the seller has entered into an agreement with a buyer.
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what does option pending mean ? No additional information is provided. Option Pending - known as OP status means the contract is in an option period, this typically stays 7-14 days and also buyer needs to pay the option fee as well. In this case, the seller has no right to terminate the contract during this period, just only the buyer. about 4 years ago.
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What Do All Those Real Estate Listing Terms Really Mean? If your offer is accepted as a backup, you’re in line to go under contract if the first sale falls through. Pending, showing for backup This means the property's owners are actively taking backup offers in case the first one falls through.
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- A pending status means there has been an offer accepted on the home and the buyer is in the process of working with a lender to finance the property. An option pending status means the buyer is in the proces of having the home inspected and can still change their mind on purchasing the home. I would love the opportunity to help you find a home.
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? Hi Grace, Pending can be up to interpretation. For the most part, it means that all te stipulations and contingencies have been met and the property is on track for a successful close. To save yourseelf time and frustrations, watch for the active or available properties. All the best!
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What Do All Those Real Estate Listing Terms Really Mean? That doesn't mean that it's a done deal by any means, however (more on that next). Contingent A contingent status means that the seller has accepted an offer and the home is under contract. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the deal can close.
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? Pending indicates that there is a contract on the house, and that the buyers are in the process of getting their loan -- this process generally takes 3-4 weeks once the offer is accepted. Let me know if I can assist you by using the Contact Me link.