HomeLight

JULY 23, 2021

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?

MLS 109

MLS Backup offer Agents Purchase and sale agreement 109

Point2Homes

DECEMBER 8, 2020

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.

Purchase and sale agreement 145

Purchase and sale agreement Backup offer Home sale contingency Short sale 145

Realty Biz

SEPTEMBER 14, 2021

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. The seller has agreed to accept a contingent offer from the purchaser. Making an Offer on a House Under Contract.

Backup offer 124

Backup offer Purchase and sale agreement Inspection Sales 124

Realty Biz

NOVEMBER 11, 2020

Home Inspection Contingency. Home inspections are one of the biggest hurdles in home sales. It is not uncommon for a home to go from being market “contingent” to “back on the market” because of some issues discovered from the home inspection. Home Sale Contingency.

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

RIS Media

MAY 19, 2021

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Two important statuses in the MLS are “Contingent” and “Pending.” Common real estate contingencies include the following: Inspection Contingencies.

Purchase and sale agreement 98

Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98

HomeLight

DECEMBER 31, 2020

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.

Closing 104

Closing Backup offer Sales Inspection 104

HomeLight

JULY 6, 2023

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.

MLS 98

MLS Backup offer Inspection contingency Purchase and sale agreement 98