Cleveland Real Estate: Buyers - Is The House You See On Line Really Available?

By
Real Estate Agent with Howard Hanna Real Estate Services

 

Cleveland Real Estate: Buyers - Is The House You See On Line Really Available?

 

Most home buyers use the Internet for their home search, but many popular websites do not always reflect the most updated information. Therefore, it is helpful to have Cleveland real estate listings sent directly from an agent as this information is fed directly by their local Multiple Listing Service and is the most reliable and accurate data available.

Another important factor to consider when viewing Cleveland real estate on line is that there are different categories used to convey the given standing of a home, usually listed under a "status" field, and they can change at any time. This field is not always indicated on many on line sites, so homes seen here may actually be under contract. A good rule of thumb is to contact your agent if you see a home that you like, just to make sure it is still available.

Here are the most common "statuses" used by most MLS's:

ACTIVE - The home is currently listed for sale and available for showings. Please note that an "active" listing could still have an offer being negotiated on it, or have a recently accepted offer and still be listed as "active".Pending Status

CONTINGENT - An offer has been agreed upon by both parties in writing subject to certain terms and conditions, usually inspections and financing. Showings on this home could still occur with the permission of the seller, although buyers are advised not to view a  home that is "contingent". The reason for this is for fear that they may see it, fall in love, and not be able  to buy it.                                                        

PENDING - The inspection process has been completed and the loan has been approved, or some type of verification has been done to ensure financing is secure. A home with this status will most likely transfer within 30-60 days. These homes should not be highly considered as an option for a buyer.

 

CLOSED- The home has officially transferred, in which case all information, including final purchase price, becomes public record. It will usually take some time for a local county to post this data, but a Cleveland real estate agent will have immediate access to this information through their local MLS.

WITHDRAWN - The seller took the home off the market prior to the listing agreement period being completed. Some homes that are withdrawn from the market end up being put back on at a later point in time.

TEMPORARILY OFF MARKET - The seller took the home off the market for an undefined period of time with the intention of putting it back on the market.

EXPIRED - The listing term has ended and the home is no longer officially on the market. Expired listings usually come back onto the market almost immediately, either with the original agent or a new one, and often at a lower price.

If the status of a home you want to see changes, it is best to have your agent contact the listing agent to get additional information.

Also, if you find a home on line that you really want to see, it is best to check with your agent to make sure it is still "active", and get in to see it as soon as possible. Remember, a home that looks great to you will also appeal to other buyers.

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About The Authors:

This information is provided compliments of Amy and Dan Schuman, The Schuman Team Keller Williams Realty. The Schumans are experts in the Cleveland Ohio real estate market and specialize in luxury homes, home staging, and relocation.

If you are looking to buy or sell a home in the Cleveland Ohio area, please contact the Schuman Team at 216-346-3235

VIEW ALL CLEVELAND REAL ESTATE FOR SALE BY CLICKING BELOW

 

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Cleveland Real Estate: Buyers - Is The House You See On Line Really Available? is the property of The Schuman Team and may not be duplicated or used without their written consent. ©2009

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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Dan and Amy, this is such important information.  And a lot of the online sites don't change the status until a home has settled. 

May 30, 2009 12:32 AM #1
Rainmaker
631,147
Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

I agree with Pat, I am constantly having buyers ask about a home that they find on the web and it hasn't been available for a couple of years.

May 30, 2009 01:00 AM #2
Rainmaker
301,963
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Pat and Don - Thanks for your comments. I get calls all the time from buyers who see a home on line that they like and are disappointed to find out it is either sold or under contract.

May 30, 2009 01:07 AM #3
Rainmaker
570,130
Svetlana Stolyarova
Local-n-Global Realty, Cleveland and International Real Estate Solution - Mayfield Heights, OH
Local-n-Global Realty, Broker 216-548-4663

Dan and Amy - that's very timely post. Buyers are very active in on-line search, however even in property search professional guidance of Real Estate agent is of a tremendous value. Even MLS has a 48-hours rule, so it's always almost accurate. Very good information for customers!

May 31, 2009 10:59 AM #4
Rainmaker
301,963
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Svetlana- thank you for your comments. Yes, even the MLS is not always accurate because of the 48 hour rule, so that is why a buyer should contact their agent and we can personally call to get updated information. I hope all is well.

dan

Jun 01, 2009 02:30 AM #5
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