Quick one...explain w diff between active, contingent, and pending on real estate listing
Listing status in the MLS seems to be confusing.
Sometimes that is due to the widely varying rules of various MLSs. So people from other areas moving to the Raleigh Cary Durham Chapel Hill area need to be brought up to speed regarding the meaning of MLS status.
Most commonly, people are confused by "Contingent" and "Pending" status.
Thread Link:
https://www.city-data.com/forum/ralei...f-between.html
Sometimes that is due to the widely varying rules of various MLSs. So people from other areas moving to the Raleigh Cary Durham Chapel Hill area need to be brought up to speed regarding the meaning of MLS status.
Most commonly, people are confused by "Contingent" and "Pending" status.
Quote:
Originally Posted by MikeJaquish
This is not accurate in the Triangle MLS. The term is used differently in the MLS than it is in a real estate contract.
Of the many possible Contingencies that may be in a contract, selling a house, or closing on the sale of a contract on the house are common, but they are far from the only contingencies that exist in almost any real estate sale contract.
All a contingency is is a condition of sale.
From TMLS:
"(c)Contingent: Contingent status indicates that a property under contract is
subject to an additional contingency or condition. This status reflects a
property available for showing and additional offers. A listing in Contingent
status will not expire at the end of the listing contract term.
(d)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."
Of the many possible Contingencies that may be in a contract, selling a house, or closing on the sale of a contract on the house are common, but they are far from the only contingencies that exist in almost any real estate sale contract.
All a contingency is is a condition of sale.
From TMLS:
"(c)Contingent: Contingent status indicates that a property under contract is
subject to an additional contingency or condition. This status reflects a
property available for showing and additional offers. A listing in Contingent
status will not expire at the end of the listing contract term.
(d)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."
https://www.city-data.com/forum/ralei...f-between.html
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