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. An offer has been accepted, and the sale is expected to close. Why have a backup offer on hand?

MLS 85

MLS Backup offer Inspection contingency Purchase and sale agreement 85

Point2Homes

DECEMBER 8, 2020

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). A backup offer is not uncommon in real estate sales. If the first sale falls through, the backup offer will then be in position to move forward with the purchase.

Purchase and sale agreement 145

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

Realty Biz

NOVEMBER 11, 2020

If you follow all of the proper steps in selling a home , you will never have to worry about accepting an offer with a home sale clause. This contingency is often required by lenders to make sure the home is worth what the buyer has offered for it. In real estate jargon, this is referred to as a “backup offer.”

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

Realty Biz

SEPTEMBER 14, 2021

In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS). The seller has agreed to accept a contingent offer from the purchaser. During this time, the seller can still accept backup offers from other interested parties. Making an Offer on a House Under Contract.

Backup offer 124

Backup offer Purchase and sale agreement Inspection Sales 124

First Team Real Estate

MAY 27, 2021

Through my involvement with the community, I am fortunate to have an extensive professional network in Orange County , which has been beneficial in allowing me to uncover and assist my clients even better, helping them purchase amazing properties not publicly listed on the MLS, as well as discreetly selling.

Agents 98

Agents Backup offer MLS Closing 98

HomeLight

MARCH 20, 2023

A kick-out clause acts as a sort of compromise in light of an offer with a home sale contingency. They may be able to accept backup offers as well, depending on how the clause is written. The house stays on the market and it’s marked in the MLS as an active first right. In Allen’s market, this term is more common.

Home sale contingency 83

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 83

HomeLight

OCTOBER 11, 2021

The homeowner could also have over-extended themselves with home equity loans or lines of credit, or the property might have some kind of financial lien placed against it, all of which can result in the owner being “underwater” on the home’s value vs. what is owed. Active” means the house is actively listed on MLS, or is actively for sale.

Short sale 68

Short sale Sales Banks Backup offer 68