? for the realtors here (for sale, attorney, homes)

[lastdash]

is it common when a home has a pending sale for the for sale sign to be left up in the yard?
Understand that due dilligence is prob. being performed but should the for sale sign be left up ?
curious too about one home that's been pending for a few weeks (for sale sign still out in yard).
It was on Zillow & realtor.com but shortly after the status was pending the listing got removed from both sites.
See other homes still showing on those sites as pending or contingent ( realtor.com mainly) that went into those situations weeks before this particular home was pending. Why leave some homes showing their status and some not showing at all ?

[MikeJaquish]

Originally Posted by lastdash

is it common when a home has a pending sale for the for sale sign to be left up in the yard?
Understand that due dilligence is prob. being performed but should the for sale sign be left up ?
curious too about one home that's been pending for a few weeks (for sale sign still out in yard).
It was on Zillow & realtor.com but shortly after the status was pending the listing got removed from both sites.
See other homes still showing on those sites as pending or contingent ( realtor.com mainly) that went into those situations weeks before this particular home was pending. Why leave some homes showing their status and some not showing at all ?

Signs can be up until after sale is closed, and for up to ten days after. Legit.
By law, we must forward all offers to a seller right up to the recording of the deed. A sign may bring another offer.

Agents leave them up as long as possible, hoping for calls that turn into leads for another deal.

[TarHeelNick]

Originally Posted by lastdash

is it common when a home has a pending sale for the for sale sign to be left up in the yard?
Understand that due dilligence is prob. being performed but should the for sale sign be left up ?
curious too about one home that's been pending for a few weeks (for sale sign still out in yard).
It was on Zillow & realtor.com but shortly after the status was pending the listing got removed from both sites.
See other homes still showing on those sites as pending or contingent ( realtor.com mainly) that went into those situations weeks before this particular home was pending. Why leave some homes showing their status and some not showing at all ?

With regards to how listings appear on syndicate sites (RDC, Zillow, Etc.)...it's because they are just a secondary "displayer" of information (often inaccurate; the joke is that the A in Zillow stands for accuracy) based on an algorithm; and sometimes signals get crossed.

With regards to why signs are often left in yards after homes are under contract (and occasionally even a few days after closing); Mike summed it up pretty well.

[lastdash]

thanks to you both, very helpful !

[BoBromhal]

as recently as a year ago, when the home was marked Pending vs Contingent, then the Pending status dropped it off syndication. Don't know whether that's the case still.

as an add-on for the sign, there's no requirement to put any type of "Under Contract" rider on them either.

if you're in the market to buy, it's best to engage a good Realtor sooner rather than later.

[lastdash]

Thanks BoBromhal...not looking to buy, just is a situation in a family members' neighborhood and had us wondering about it.

Mike said : "By law, we must forward all offers to a seller right up to the recording of the deed"

Wow...that would really p.o. a buyer under contract, would it not, if the property they were buying got pulled from under them in the 11th hour?
If the property got a better offer , say the day before being recorded , and the seller accepted the better offer wouldn't that be breaking some contractual obligations between the buyer and seller that were ready to seal the deal ?
I have no idea , just wondering !

[MikeJaquish]

Originally Posted by lastdash

Thanks BoBromhal...not looking to buy, just is a situation in a family members' neighborhood and had us wondering about it.

Mike said : "By law, we must forward all offers to a seller right up to the recording of the deed"

Wow...that would really p.o. a buyer under contract, would it not, if the property they were buying got pulled from under them in the 11th hour?
If the property got a better offer , say the day before being recorded , and the seller accepted the better offer wouldn't that be breaking some contractual obligations between the buyer and seller that were ready to seal the deal ?
I have no idea , just wondering !

OH... But....
As licensees, we MUST let the seller make the decision on all offers.
And, yes, a seller who implied they would try to kick a contract to the curb for a better offer? We would have to tell them at any point in the transaction, an hour after contract or an hour before recording, "Seriously? You should run that plan past your attorney."

Yup. A buyer could possibly sue for specific performance in the case of seller breach of contract and very possibly win. Get the contract honored and all costs for delay and suit paid by the sellers.

IF the seller balked at contacting an attorney for counsel, I would tell them, "Assume you will be sued. Assume it will be VERY costly. THAT is why you need to talk to your attorney."