There terms should help give you a better understanding of the statuses you see when searching for houses online:
Active: This means the home is currently active on the market and currently for sale.
Coming Soon: This means the home will eventually be turned active and available on the market. Some Agents put in the private remarks the day the listing will go active, but most will not so ask your agent to look for this information if possible to find.
Active Contingent: This means the home is under contract, however with a contingency that does not include the option period. The two most common contingencies are financing and sale of other property. On the bottom of the MLS listing, your agent can see what the active contingency is.
Active KickOut: Property has an offer contingent upon the sale of another property by buyer. It is still available for showings and backup offers. If you place an offer on an AKO house, and the seller wants to accept it, the current buyer of the home has to waive their contingency. If the Buyer decides to not waive the contingency the house is now available to you the Buyer. This is not commonly used, but not unheard of.
Active Option Contract: This means the home is under contract, and currently in the inspection period, also known as the Option Period.
Cancelled: This means the Seller decided to cancel the listing with the Listing Agent. The home is no longer be on the market for sale. The seller may still want to sell, it could be worth asking your agent.
Expired: This means the Listing Agreement between Seller and Listing Agent has expired. The home is no longer be on the market for sale. The seller may still want to sell, it could be worth asking. your agent.
Pending: This means the home has gone through option period, all contingencies, and is now waiting to close. This status is the least likely to come back to Active status. Its usually a done deal at this point, just waiting on the closing day or potentially appraisal.
Closed: The home has Sold to the new buyer and is no longer on the market for sale.
Hold: A valid listing contract exists, and no offer has been accepted. The Listing Broker is in possession of a seller written instruction to submit the listing as “Hold” This instruction may be due to various reasons such as multiple quality offers already received, repairs, illness, guests, etc.
Withdrawn: Withdrawn is a temporary Off-Market Status. This means that the listing is no longer being shown on the MLS, but an Active Contract still exists between the seller and Listing Agent and the seller wants to sell.
If. you come across a status or term you don't see here, please reach out to me and I'll explain and then also add to this list so others will benefit too!
Janine
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