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

MLS 90

MLS Backup offer Inspection contingency Purchase and sale agreement 90

The Close

APRIL 26, 2022

The secret is to get access to homes before there is a lot of competition for them through the MLS. We often don’t know who is selling the most homes in any given area, so we train our buyers’ agents to search the MLS for properties sold over the past six to 12 months. Write Backup Offers With a Backup Clause Written by an Attorney.

Backup offer 78

Backup offer Purchase and sale agreement MLS Agents 78

HomeLight

OCTOBER 20, 2020

If you’ve accepted an offer that is contingent on a home sale and you have added a kick-out clause, your home should be listed with a status such as “Contingent With Kickout. This tells other buyers that the home is still available for showings and backup offers. It’s not instant.

Backup offer 56

Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 56

First Team Real Estate

NOVEMBER 9, 2020

Proactively look for inventory before it appears in the MLS or Zillow. If the buyers get cold feet or financing falls through, you want to be ready with your own backup offer in place so that you can be next in line to secure your dream house. By the time a home shows up on Zillow many of our best buyers have already seen it!

Agents 93

Agents Purchase and sale agreement Backup offer MLS 93

First Team Real Estate

DECEMBER 14, 2020

pulls data directly from the MLS, providing an up to the minute look at our niche Southern California markets. Everyone thinks about the price, but when it comes down to the nitty-gritty, your agent will be going to bat for you on a timeline, inspections, home warranty, closing costs, backup offers, repairs, and more.

Brokerage 105

Brokerage Backup offer Staging MLS 105

HomeLight

OCTOBER 11, 2021

Active” means the house is actively listed on MLS, or is actively for sale. Pending” means that someone has already made an offer on the house, similar to the term “sale pending” that you might see on other listings. This doesn’t mean, however, that the seller isn’t considering additional offers!

Short sale 72

Short sale Sales Banks Backup offer 72

First Team Real Estate

DECEMBER 13, 2020

pulls data directly from the MLS, providing an up to the minute look at our niche Southern California markets. Everyone thinks about the price, but when it comes down to the nitty-gritty, your agent will be going to bat for you on a timeline, inspections, home warranty, closing costs, backup offers, repairs, and more.

Brokerage 40

Brokerage Backup offer Staging MLS 40

HomeLight

JUNE 28, 2022

Lists your home on the multiple listing service (MLS). Vets all buyers and presents you with all offers and backup offers. Evaluates and negotiates offers and makes recommendations on counteroffers. Present a strong offer and negotiate counteroffers on behalf of the buyer. Prepare the purchase agreement.

Agents 86

Agents Purchase and sale agreement Brokerage Backup offer 86

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 89

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 89

Toronto Realty Blog

NOVEMBER 3, 2021

The deposit went into our brokerage trust account, the property was updated as ‘sold’ on MLS, and the ‘SOLD’ sign went up on the lawn. I told the buyer agent with the backup offer what had happened and she laughed. “I’ve seen it all,” she said. “Good luck!” Not exactly.

Purchase and sale agreement 96

Purchase and sale agreement Closing Backup offer Agents 96