Remove Backup offer Remove MLS Remove New Construction
article thumbnail

What Is a Bumpable Buyer? How Bumpable Offers Impact Your House Hunting

Redfin

This allows them to keep showing the home and accept backup offers. If a stronger offer comes in, the seller can ask the original buyer to either remove their contingency or step aside — effectively “bumping” them out of the contract. A home with a bumpable offer is still active, and the seller can accept a stronger offer.

article thumbnail

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

MLS
article thumbnail

Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

” 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.” What Other MLS Statuses Are There? Contingent vs. Pending?