Backup offer MLS Mortgages 
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?
HomeLight
JULY 23, 2021
One term you’ll likely hear often during the homebuying process is “MLS,” which stands for multiple listing service. The MLS is a real estate database of all the homes in your area that are currently for sale, pending sale, or have recently been sold, and so much more. Will a house with an offer on it be removed from the MLS?
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Point2Homes
DECEMBER 8, 2020
A home listed as contingent means the seller has accepted an offer. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. A backup offer is not uncommon in real estate sales. Contingent Statuses. No Showings.
Realty Biz
NOVEMBER 11, 2020
The Mortgage Financing Contingency. Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. Issues like these could lead to a buyer not getting the mortgage they expect. The document provided to the buyer at closing is what’s referred to as a mortgage plot plan.
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.
RIS Media
MAY 19, 2021
” 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.” Financing or Mortgage Contingencies. What Other MLS Statuses Are There?
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.
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