what does option pending mean on a house
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"What does ""option pending"" mean on a real estate listing?" Report Abuse. 1  Option Pending. Source(s): https://shrink.im/a0taT. 2  In our MLS. that means that a contract has been accepted and is binding. The buyer has paid for an option period so they can have inspections done and back out if they feel they need to. That option to back out is what they call option pending.
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- Answer Wiki. Active Contingent means that the seller has accepted an offer from a buyer, but the buyer made their offer contingent on the sale of the buyer's other home. So, say Mr. and Mrs. Taylor own 123 Main Street. They would like to sell 123 Main Street and buy another home. The tour 456 Congress Street, owned my Mr. Smith.
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Active Status? Pending Status? Is a pending status adequate? Listings with the status “pending release” (status 2) or “pending continue to show” (status 3) that state “no more offers” or “no more showings” are incorrectly classified. If the property is not available to show or not accepting offers, the status should be “pending no show” (status 4).
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What Does a Pending Status on a House Mean? A pending sale typically involves contingencies -- conditions a seller and buyer must meet to complete the transaction. Buyers typically include a financing condition, an appraisal contingency for property value property, and investigation contingencies, such as title searches and inspections.
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"What does ""contingent"" mean when looking at listings? I have seen a few houses with that statement and wonder if they are still available." Contingent on the Triangle MLS means there is a contract on the home, but the home is still available to be shown. It may be shown to buyers who may wish to either make a Back Up Offer, or who may have interest and wish to be ready should the contract be terminated and again become an Active listing.
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"What does ""pending"" mean in real estate?" What does pending mean in real estate? Definition of Pending A home's status is changed to Pending or Pending Offer once it's set to close and all contingencies have been satisfied or waived. This is when the lender and the escrow agent or attorney process the loan and title documents to make sure the deal closes on time.
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- Good Afternoon, True, Active Option means that a contract has been agreed to and the buyers are in their option or period to conduct inspections. Does this mean the home is off the market, no.At times, the buyers may come back and ask for items that the sellers is not willing to agree to and the contract can terminate.ason Campbe, Agent, San Antonio, TX. It means that a contract has been submitted to the seller and the seller and buyer have agreed and the home is under contract. The option period is the period of time that was negotiated between buyer and seller that provides the buyer the unrestricted right to cancel the contract.
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"What does ""contingent"" mean when looking at listings? I have seen a few houses with that statement and wonder if they are still available." Definition of Active Contingent. Active contingent is when a home seller has received an offer from a buyer, but the buyer needs to meet certain conditions before the sale can be finalized. These conditions may include a home inspection or getting approval on a mortgage loan.
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Option Pending vs Pending continue to show Option Pending vs Pending continue to show. What is the differences between option pending vs pending continue to show? What is the pros and what is the cros? When you enter into a contract with a buyer / seller the agents put the property into option pending for 10 days so the buyer can get inspections done.
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Pending Once you understand this, you will know for sure if the home is even a possibility for you to pursue. If you find the home of your dreams but it has a “sale pending” status, you should not get your hopes up. Put the home on the bottom of your list and watch the activity on it.
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What Does Sale Pending Mean in Real Estate? Most agents won’t label a home Sale Pending until the buyer has removed all contingencies and the sale is a done deal. Keep in mind that a buyer can still walk away after removing all contingencies. On occasion, a buyer has an emergency and needs to exit the contract.
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? answer by Rosa Burk | Visit My Website | Contact Me. When a home is in Pending status means that it is off the market, and in the process of being purchased. If you really care for the property, be in the look up, occasionally the transaction fell through.ending indicates that there is a contract on the house, and that the buyers are in the process of getting their loan -- this process generally takes 3-4 weeks once the offer is accepted. Let me know if I can assist you by using the Contact Me link. K.
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What does active contingent mean? It means there is a contract on the house but that contract is still contingent--meaning there are contingencies that need to be satisfied such as the home inspection, appraisal and or loan approval.n most cases it means there is a buyer who has a contract to purchase the house but it is contingent on something. The majority of contingincies are buyers selling a home to purchase the new property. Your agent can ask the listing agent what the contingincy is before viewing the property.
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- Pending - Taking Backups. The seller accepted an offer on their home, but something has hit a snag in the final stages; perhaps there was an issue with a contingency on the offer. Now, the seller is taking backup offers in case their deal falls through.
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- What does pending disposition mean in legal terms? A pending disposition in legal terms means that no decision has been reached yet. When someone is arrested and they have a pending disposition, it means that it has not ye … t been determined whether they have actually committed a crime or not.
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- Sometimes I feel it's a pulled muscle, but mostly I'm ... February 9, 2012 | medhelp.org. I have normal (even low) liver enzymes, but have mild pain in my liver area. ...I have a history of Hep C, which after a round of interferon and antivirals, I have been free of for about 7 years..
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- 1. If the seller does not wish to continue showing the property, the MLS will assign the Pending status to the listing. 2. If the seller does wish to continue showing the property, the MLS will assign the appropriate contingency indicator (usually ACT-O in this case).
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What to Expect After You've Put a House Under Contract Not Normal: Option period longer than 12 days. Also uncommon to increase the option period for a period of over 2 weeks. In residential transactions, option periods are short (averaging 7-12 days) so that the seller does not risk having the property off the market for a long period of time.
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What Does Sale Pending Mean in Real Estate? Here’s what you should know to decide if a Sale Pending home may be worth pursuing. Understanding the Home Purchase Contingency. To begin, a buyer generally makes an offer “subject to” or “contingent upon” a property inspection, a bank appraisal or full loan approval.
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What is pending mean? if some one say the renovation is pending due to the weather, des it mean it didn't start or it stop? Update: I like to know if it is started already and stoped because of the weather or it hasn't start because of the weather.
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- “Active/Pending Short-Sale” would mean the real estate agent has an offer that is waiting for approval from the bank AND the agent is still showing the house, hoping for better offers. All short-sale offers must be approved by the bank.
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- Learn more. 1  Only showing 500 homes. 2  These properties are currently listed for sale. 3  Properties that may be coming to the market soon but are not yet found on a multiple listing service (MLS). 4  A pending listing means a seller has accepted an offer from a buyer.
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"What does it mean when a home is ""Active Option Contract"" on Redfin.com?" In other locations, the active option contract is referred to as a contingency period or due diligence period. In Texas, buyers must make an option period deposit, which is separate from the earnest money deposit.The option period deposit cannot be reclaimed by the buyer if they back out of the sale, even if it's for a reason covered by a contingency in the contract.n active option contract means a home seller has accepted an offer to sell their home but the contract is in the option period.
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What Do All Those Real Estate Listing Terms Really Mean? Even though a sale is highly likely, some pending properties may still accept backups. If your offer is accepted as a backup, you’re in line to go under contract if the first sale falls through. Pending, showing for backup. This means the property's owners are actively taking backup offers in case the first one falls through.
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Under Contract: âContingentâ vs. âPendingâ A listing in Contingent status will not expire at the end of the listing contract term. Pending: Pending status indicates that a property is under contract and is not available for showings. Listings in this status may include contingencies. The listing will not expire at the end of the listing contract term.
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- What does active option contract mean? An active option contract means a home seller has accepted an offer to sell their home but the contract is in the option period. During the active option contract, the buyer has several days to have the home inspected.