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Pending with Release - what does it mean?
What does "Pending with Release" mean?
My buyer asked me yesterday what "Pending with Release" means and I realized that the average buyer may be confused by the different terms.  
Let me explain the property status codes with you: 

ACTIVE: When a property is first listed the code is ACTIVE and available for sale.
PENDING with RELEASE: When a buyer places an offer on a property which is then accepted the listing changes from Active to Pending Release  (PR) which means that the property is sold contingent on the sale of another property. My buyers didn't have to sell a home first but that usually is a contingency that needs to be cleared. This status means that while the release clause of the contract is in effect the property will continue to be shown and backup offers accepted.
Sellers could consider another offer and request the first buyers to clear the contingencies they placed in the contract within a certain time frame or accept the offer of the second buyer.  This is not always as easy as it sounds; the first buyer will have to sign the "cancellation of contract, release of deposit and joint escrow instructions."
PENDING SHOW (PS) is the second ... more

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