The listing still says active but you are telling me it has an accepted offer. Why? When a buyer is looking at listings that say they are active they are often surprised to find out from me that the listing has an accepted offer. Why is it still showing as active and can I still see it are the common questions I get after telling them of the offer.
The listings in our MLS show as active until both the buyer and seller have signed an attorney approved contract which can take a month or more after acceptance. A buyer will often do home inspections prior to signing contracts then contracts are prepared by the sellers attorney. The contracts are sent to the buyer’s attorney who will review them and then have the buyer sign them. They are then returned to the seller’s attorney along with a deposit check and the seller’s attorney will then have the seller sign the contracts. Only after all of these steps will the listing be changed to under contract and no longer show as active.
The question is “Do you want to see this property for back up?” Now while many offers do fall through I will always remind a buyer I am working with that many do go through and I truly hate to see someone fall in love with a house that they can’t have. Buying a home is an emotional journey and adding the stress of waiting to see if another deal goes through on “your perfect house” adds even more stress to the mix. I will show for back up if it seems that the currently accepted offer is very shaky or has a major contingency on it but my buyer will go into that house knowing they may not be able to buy it.
I know that in some MLS systems the listing agents have the option of putting the home in a pending or pending with contingencies but many do not. It is helpful to find yourself a buyer’s agent who can sort through the listings and ask the questions for you. Please let me know if I can help you or someone you know here or anywhere you want to be.
Good luck with your search for a new home!