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How long after your house was under contract was it taken off MLS? I'm just curious. We signed the contract 12/10, and had the inspection the Tuesday before Christmas. We have to do 2 things, both only minimal before we close on 1/25...long closing due to the holidays and the buyers ability to give a 30 day notice, etc. Our house is still listed on MLS. Our agent said she put it as "pending," on the agents side but it's still showing on the internet searches. The sign is still in our yard, etc. I don't know why, but I want it taken off and the sign gone... maybe to make it seem over to me? A friend of ours sold their house and once the buyers provided an approval letter the house was taken off MLS. The house up the road had varying signs placed on it - For Sale/Pending/SOLD and then was almost immediately taken off the internet. I mentioned it to the agent and she said she generally leaves them on there until a day or so before closing. I understand she wants activity, but its starting to get on my nerves everyone asking when we're going to sell when it's already SOLD! Plus, I'm just tired of looking at that sign.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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It isn't sold until it CLOSES and you have your money in your account. Right now you have an accepted offer. A lot of ugly things can happen in 3 weeks (God forbid) but having the home on the MLS and out in the internet isn't a bad thing, just in case.
Note also that having your house in pending has basically removed it from the current listings of the MLS. (at least here it does) However it may continue to show up on internet searchs for weeks. There is more than one data base involved and they don't all do timely updates.
I never remove a listing from the MLS until it has closed. And I also never list it "Pending", but "Pending Taking Backups". Why? Because I have a fiduciary responsibility to my seller, and part of that is to, if possible, have a Plan B in the way of a backup offer if someone else comes along that is interested while we're under contract and on the rocky road to closing. I've also seen deals fall through a week AFTER the original closing date, and I'm a bit superstitious that way. I usually take the sign down and the lockbox off the door on the way to closing or right after.
So, for those who keep it on the local MLS, do you continue to show the property? The agent told the scheduler that it was under contract so we wouldn't get anymore showing requests. I guess I'm so ready for it to be over, that any sign of finalization makes me happy(ier).
ETA:
We've been thru the whole contract falling thru thing, so we know it happens. But, we have to be out the day of closing, so we'd need to start moving the week before in order to be out, the house cleaned, etc by Sunday night of the 24th. Do you advise your clients to go ahead and acquire housing (we'll be renting) even if it requires a deposit or wait 'til the very last minute and hope they can find something? My fear is not having somewhere to live, have to live somewhere we normally wouldn't due to limited inventory, or losing our money all together should something happen. I've talked to our agent, who refuses to commit, is very vague, and honestly makes me feel more nervous about the entire situation.
Once a listing is in "pending" status, it shouldn't get any more showings. If you're concerned, have your agent remove the lock box.
The saying "It isn't over until the fat lady sings" is true. The house isn't sold until it has been recorded at the court house and you have a check in hand. I've seen transactions dissolve the day before closing. Sure hope that won't happen to you.
If it's "Pending", it won't be shown. If it's "Pending Taking Backups", it MIGHT be shown, but your agenet can put a note in the MLS that only the agents will see that tells them not to show it. That doesn't preclude an offer from someone who saw it, was thinking about making an offer but got beat to the punch, ending in a backup offer.
If it's "Pending", it won't be shown. If it's "Pending Taking Backups", it MIGHT be shown, but your agenet can put a note in the MLS that only the agents will see that tells them not to show it. That doesn't preclude an offer from someone who saw it, was thinking about making an offer but got beat to the punch, ending in a backup offer.
These are all likely localisms. As far as I know the data record on the MLS lasts at least until five years after a sale. So in the sense of being a data record in the MLS it takes at least five years and I would be willing to bet many MLS have every record since day one. The MLS may not allow queries to read a record...but it is still there.
The internet however does not provide full access to the MLS. Here you can see only for sales, contingent solds and about to be auctioned. All other classes are are not included in the data fed to the internet sites. And note that the data is often actuallly fed...so it is on the other site. The MLS then has no way to make it go away. The disappearance of a property is governed by the rules of the site holding it...not by the MLS.
We have reasonably hard rules about when status changes and they require action. YOu cannot for instance leave a property with an accepted offer in a for sale status...you must move it to contingent. Similarly when the contingency is satisfied you must move it to pending.
People play games but risk heavy fines if caught. In our MLS THL would be in deep dodo...
How so, olecapt? Pending and Pending Taking Backup Offers both indicate that the property is under contract. Pending Taking Backups merely means that backup offers will be accepted to be in line behind the contract should it fall through. It's an offer, nothing more, until the contract falls through and the seller decides to accept or counter the backup offer. That's what those specific choices (it's check the box, not write it in) mean, per the MLS training we're required to take when we sign up for the MLS. Pending, alone, simply means that the contract already in existence is highly unlikely to fall through - my crystal ball being broken, I'm hesitant to state that ANY contract involving a lender is rock solid until it's already closed.
No games being played at all, simply using the MLS as it is intended to be used.
What would the equivalent be in your MLS, that I'd be in "deep dodo"?
Oh, and you're right, the information remains on the MLS after the close of the sale, but it's not available to anyone but a member.
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I usually take the sign down and the lockbox off the door on the way to closing or right after.
