MoCoRealEstate

Understand Home Listing Status

December 14th, 2011 Categories: Buying, Selling

We often get questions about homes that are under contract.  When a home is first introduced to the market, it’s status is “Active”.  Once ownership finally transfers, the status is “Sold”.  That’s simple enough.  In between, however, there are a couple of different ‘Contract’ statuses that can be confusing.  Here’s an overview of typical listing status changes.

Active. Home is fully available. Seller may be negotiating a contract with a buyer, but seller can still consider another offer. Contract – No Kickout. Seller cannot accept another contract. Basic buyer contingencies (home inspection) outstanding. Contract. Buyer and Seller are locked-in to a contract. Buyer financial contingencies could still be outstanding. Sold. Title has been transferred from seller to buyer.

Contract with  Kickout.  Seller can accept a  ‘backup’ contract and can ‘kick-out’ existing contract.  Typically used with a home sale contingency.

Contact us anytime with questions about homes in Montgomery County.

Posted by Bruce Lemieux

This entry was posted on Wednesday, December 14th, 2011 at 10:55 am and is filed under Buying, Selling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Name (required)

Email (will not be published) (required)

Website