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Old 03-02-2012, 08:30 PM
 
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Once an offer is received and accepted for the purchase of a home, how long does the realtor have to mark the sale "pending" on the MLS website?
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Old 03-02-2012, 08:48 PM
 
Location: DFW
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Most MLS's have several changes. Ours usually becomes "OPT" 1st which means it's under the option period. "CON" means it's under a contingency.

There are more but after those are taken care of they become "PND" for contract pending. An agent should update a homes status no mater what it is as soon as possible. If it's a weekend it may be Monday.

What makes all of us agents mad is when it's not updated and we show homes that are under contract.

Why do you ask ?
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Old 03-02-2012, 09:26 PM
 
Location: Salem, OR
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In my MLS we have 48 hours to do a status change but we have different status updates to choose from. Pending means you are past the appraisal and in underwriting.
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Old 03-03-2012, 09:14 AM
 
Location: El Dorado Hills, CA
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Here pending means the contract has been accepted (cont. if it's a short sale that hasn't been lender approved). Agents should move it to pending as soon as the contract is finalized but there are sometimes logisitcal issues that delay a day or two (weekends, vacations, etc.).
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Old 03-03-2012, 09:22 AM
 
Location: 92037
4,630 posts, read 10,241,214 times
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Quote:
Originally Posted by NinaN View Post
Here pending means the contract has been accepted (cont. if it's a short sale that hasn't been lender approved). Agents should move it to pending as soon as the contract is finalized but there are sometimes logisitcal issues that delay a day or two (weekends, vacations, etc.).
Nina is that a CAR rule or your local MLS database to make the changes in the system?

To the OP here in California, I have seen it change in the MLS within a few days after the offer has been accepted and all parties signed.

I have seen here that a status will be 'contingent' if it is waiting for short sale approval. But contingent can also be applied to other status as well.
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Old 03-03-2012, 11:23 AM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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Our MLS only has a way to move a property from active to pending, although there is a category called "back-ups wanted". I think most of us wouldn't show a property that had the latter category.

We have 48 hours to make changes to the status.
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Old 03-03-2012, 11:37 AM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 2 days ago)
 
Location: Cary, NC
43,067 posts, read 76,614,383 times
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Some variation of "Contingent vs Pending" is just about the most common GOOG search term used to find my blog.

I think regional differences and some lack of understanding and explanation by agents create confusion for consumers.

In our MLS, "Contingent" means there is a contract, but the home can be shown to other prospective buyers.

"Pending" means there is a contract, and the home cannot be shown to other prospective buyers.
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Old 03-03-2012, 03:09 PM
 
Location: El Dorado Hills, CA
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Quote:
Originally Posted by DMenscha View Post
Our MLS only has a way to move a property from active to pending, although there is a category called "back-ups wanted". I think most of us wouldn't show a property that had the latter category.

We have 48 hours to make changes to the status.
Our inventory is so low, and with the current issues getting loans to close, people will show and put in offers on "Pending Bring Backup" status here. Of course, they continue to look in the meanwhile.
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Old 03-03-2012, 03:49 PM
 
Location: Barrington
63,919 posts, read 46,483,367 times
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There are thousands of MLS in the U.S. and requirements vary.

Independent web site that feed off the MLS are often very slow to catch up with current MLS states. Some never do.

If you want to know the rules for a specific MLS, tell us where. Chances are somone here will know.
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Old 03-03-2012, 04:02 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,236,066 times
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Quote:
Originally Posted by NinaN View Post
Our inventory is so low, and with the current issues getting loans to close, people will show and put in offers on "Pending Bring Backup" status here. Of course, they continue to look in the meanwhile.
Yeah same here, I almost added that that might change in the near future, but left it out. Thanks fore the inspiration to add it.
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