You have found it! you have FINALLY found it.....the home that has everything. Four bedrooms, a big yard, and that perfect white picket fence. You call up to view the property, giddy with excitement.... the agent picks up and you ask to tour the property

"That property is active under contract"

What does that mean? Why are they marketing it? Here we will go over some of the statuses and what they mean.

Active

Red hot and ready to sell, they have not accepted any contract.

Active under contract.

For properties that have accepted a contract but the seller has instructed the agent to keep marketing in order to obtain a backup offer.

• With Kick-out means the seller is able to terminate the current contract for the back-up.
• With out Kick-out this is purely for a backup and not to have the option to terminate the            current contract.

Pending

For a property that has accepted a contract and the seller has instructed the seller to cease marketing or even showing the property. There will still be normal contractual conditions that could affect the outcome of the sale.

Closed

These are properties that have been sold/leased. This represents the legal transfer of the property and not dependent of the broker compensation.

Hold

Properties that are not being marketed for a period of time but can still have an agreement put in place.

Withdrawn

For properties taken out of the system prior to expiration but still have some listing broker rights. It will remain in this status until they move to expired status.

Expired

The property has exceeded the listing period and so has expired.

What we do?

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