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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

When your real estate agent puts your home in the multiple listing service, it will have an “Active” status. ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Financing or Mortgage Contingencies.

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8 Demands Every Homebuyer Should Make Of Their Real Estate Agent

First Team Real Estate

In today’s active seller’s market with multiple offers, as a homebuyer, you need to make sure you’ve found an agent who’s truly committed to helping you find your next home at favorable terms. You deserve an agent who listens, understands, and develops a plan of action personalized to you.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

How your real estate agent markets your property when an offer has been accepted can have vital implications. For example, some agents will mark your home contingent, while others will mark pending. Will the buyer have an exceptional real estate agent? The Mortgage Financing Contingency.

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What is a Contingent House Listing?

Point2Homes

Essentially, contingent listings still have contingencies to be fulfilled in order for the sale to go through, so the seller may still be open to other offers. Homes for sale may be subject to different contingent statuses, which may also be referred to differently, according to the individual multiple listing service (MLS).

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The Meaning of Active Under Contract Explained

Realty Biz

In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS). During this time, the seller can still accept backup offers from other interested parties. FINANCING: Allowing the purchaser to secure their mortgage before the home sale closes.

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10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

The first is the active period, when your home is listed as available for sale in your local MLS. Sale pending is the status in between active and sold, which indicates that you’ve accepted an offer and are in the process of selling, but that the sale is not yet completed. The buyer’s financing with a lender.

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What Buyers Can Do in an Extreme Sellers’ Market

Realty Biz

Here is some bright news for buyers, according to Realtor.com, new MLS listings were up in early to mid-April by about 40% over last year. By having a thorough understanding of your finances, you can gather any needed information specific to a house that you are interested in and quickly calculate the maximum offer you can make.