As-is, Backup offer, Due diligence and Lending

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

HomeLight

JULY 23, 2021

From the terms for different types of houses to the lingo associated with lending, there’s plenty of terminologies that can feel overwhelming for a buyer to keep up with. Will a house with an offer on it be removed from the MLS? Active means that the house is indeed for sale and the owners are accepting offers.

MLS

MLS Backup offer Agents Purchase and sale agreement

What Is an Option Period When Buying a Home?

HomeLight

SEPTEMBER 16, 2022

For example, states such as North Carolina and Georgia have a due diligence period that works in a similar way. The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. If you don’t know what you want, the line disappears too quickly. What is an option period?

Option period

Option period Earnest money deposit Due diligence Inspection

Residential Realty Today

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

What Is an Option Period When Buying a Home?

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