article thumbnail

What Does ‘Under Contract’ Mean on a Home Listing?

HomeLight

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

article thumbnail

What Does Contingent Mean in Real Estate Sales

Realty Biz

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

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.” ” What do they mean and how will they affect your home sale? Two important statuses in the MLS are “Contingent” and “Pending.”

article thumbnail

Navigating Bidding Wars During a Hot Real Estate Market

RIS Media

– Coming Soon: Homes that are listed as coming soon in your MLS are technically not allowed to be shown but can accept offers prior to showing. Your client should also come prepared with a few other things: a pre-approval letter, earnest money deposit and, if they are paying cash, a proof of funds document.

article thumbnail

11 Homeselling Myths, Debunked

The Close

After all, a new listing on the MLS gets the most attention in the first week. Home sale preparation is done like a dealership preps the cars for the lot. Selling a home is the same—it’s not just a sign in the yard and a posting on the MLS. Plus, my clients nearly lost their earnest money deposit due to the delays.

article thumbnail

How to Sell a House by Owner in Texas

HomeLight

When the time comes to move, some tenacious homeowners in Texas are eager to take over the reins of their home sale and figure out how to sell a house by owner. Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. That 6% is deducted from the seller’s proceeds at closing.

article thumbnail

How to Sell a House by Owner in Colorado

HomeLight

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado.