Bumpable Buyers

I have never heard the term "bumpable buyer" in South Carolina.  If you are correct in your assumption, although they may not have the strongest contract possible, I think it's still unfair to label them this way.  The Seller accepted the contract, and if they choose to accept backup offers - so be it. I would consider the status of a bumpable buyer as PENDING.

Never heard the term either, but I would definately consider them pending.  Ask your MLS.  Make it a great day!

Never heard of such a thing in Az. It would drfinately be a pending though. it sounds a little weird to me for the mls to call a buyer "bumpable". A contract is a legal binding document......

Here in Mesquite we have "pending with contingency", shown in the comments, but it is still active.  Most listing agents put in a 72 hour release clause in the acceptance.  If another offer comes in, the contingent buyer has 72 hours to release the contingency, or their offer is cancelled.  If they release the contingency and are not able to perform and close the escrow, they lose their deposit.  Sometimes the 72 hour clause calls for a substantial increase of non-refundable deposit.

Hi again, Sara - I think bumpable buyer (say it 3 times, real fast, funny term) and our still active pending with contingency are the same thing.  I think I remember a controversy about active vs pending a while ago and the result is active with pending with a contingency in the remarks.  I personally don't show those listings, there are very few, maybe 2!  There are plenty of homes on the market for the amount of buyers that we get.  Note:  Mesquite MLS is very small, about 175 members, and we have 516 active listings today.  Many of our sales are to retirees and second home buyers.  Contingencies are not usually even considered.

Great Topic, Great Post. Bumpable buyer is certainly a first for me. Pending, continue to show, is the next closest thing I've seen thats comparable. Up until about 10 years ago our MLS had a "pending, continue to show, status that was specifically created for your above "bumpable buyer" status. Turned out that it was one of the biggest liability / controversial issues that agents/brokers/sellers could get themselves into. After MLS legal counsel examined the problem, they (attorney's) reccommeded a 5 page addendum relating to Pending, continue to show with notice to buyer 1 upon another acceptable offer. One of the single best things our MLS directors ever done was to define Active listings (those allowed in MLS) as: "Active listings are Listings that are available for immediate showing and acceptance of offers by the seller without reservation." Otherwise the property shall not be in active status in the MLS. This virtually eliminated "contingent upon the sale of" offers and cleared up a huge liability issues. Most, not all, sellers do not want their property in MLS as pending while they wait for a buyer to sell their property so they most usually will only consider contingency offers that include accepting other offers with "No Notice" (we've labeled it "Drop Dead" contingencies) to buyer 1. Listings that have an accepted offer with Drop Dead contingencies are not required to be marked as pending because the seller can accept offers without reservation.

Interesting, Sara.  We don't have that term here on our MLS unless I just haven't noticed it.  I can't say I like it.  I think I would consider it an active.....