Pending sale notification on mls (contingent, appraisal, agent, property)
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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.
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.
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.).
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.
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.
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.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,236,066 times
Reputation: 6469
Quote:
Originally Posted by NinaN
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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