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Will a House With an Offer On It Be Removed From the MLS? Agents Explain How It Works

HomeLight

One term you’ll likely hear often during the homebuying process is “MLS,” which stands for multiple listing service. The MLS is a real estate database of all the homes in your area that are currently for sale, pending sale, or have recently been sold, and so much more. Will a house with an offer on it be removed from the 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). Before finalizing the deal, certain conditions ( like a completed property inspection) must take place. During this time, the seller can still accept backup offers from other interested parties.

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What is a Contingent House Listing?

Point2Homes

A home listed as contingent means the seller has accepted an offer. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. A backup offer is not uncommon in real estate sales. Contingent Statuses. No Showings.

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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. Home Inspection Contingency. Home inspections are one of the biggest hurdles in home sales. Home Sale Contingency.

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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.” What Other MLS Statuses Are There?

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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. Line up backup offers to hedge your risk.

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Real Estate Pending Vs. Contingent: MLS Lingo Explained for Sellers

HomeLight

That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS. Buyers also can use the findings of an inspection to negotiate for repairs or credits.

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