A while back, I wrote a post about what "AWC" meant when you saw it on a Scottsdale MLS listing. Well, as of December 5, 2012, that status has been replaced with a new one called "UCB."
UCB is short for "Under Contract - Backups" and means that the property in question has an accepted contract on it, but that the sellers have requested in writing that the home will continue to be marketed in hopes of getting backup offers.
This new status will help clarify a lot of confusion regarding the former AWC (or "Active with Contingencies") status, which became a catch-all for many situations and did not always mean that the seller was looking for backup offers.
Essentially, a large number of properties with outstanding contingencies due to various reasons were lumped under the AWC umbrella, making it very difficult to discern what the "real" status was on the property and if the seller was open to backup offers. By using UCB, agents and homebuyers will now know at a glance if backup offers are a possibility.
On the other hand, if the sellers do not request in writing that the property go into UCB status, the home will instead go into Pending status. This will occur whether there are any outstanding contingencies or not.
This is a positive step forward and should help in clearing up some of the confusion AWC was causing.
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