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Is this House Still For Sale, or Isn't It?
It happens with almost every other buyer. Buyer sees a house they LOVE online but it's not on the list of Active properties I send them. Or a buyer drives by a home they didn't see listed online. They ask me about the mystery house and when I go look it up in the NTREIS (North Texas Real Estate Information Services) MLS, it shows that the home is not available - either under Option or Pending.
I give the information to my buyers and explain what the different status' mean:
Active Option - this means that the home has just gone under contract and is currently in the buyer's "Option Period". The Option Period - per the Texas contract - is a negotiable period of time (typically anywhere from 5 to 14 days) where the buyer is allowed to have inspections performed. Buyers can back out of the contract FOR ANY REASON during this Option Period and get their Earnest Money back - only forefitting a nominal "Option Fee" (usually $50-$200). These homes are usually the ones that appear to be ACTIVE when searching online. Contingent - the home has gone through the Option Period but still has a contingency to ... more

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