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Ben Greenwald

Under Contract - Continue to Show

What does this mean?

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Open

Under Contract - Continue to Show

By Ben Greenwald   
Posted on Feb 08, 2017 in Topic: Education
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What does this mean?
Status: Open
Viewed: 1963
Asked by: Consumer
Posted: 7 months ago
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Diamond
Darby Grimmett
about 7 months ago
Hi Ben!

Here is the general break down for each status::

The different pending options are as follows:

OP: Option Pending - The sellers have accepted a contract. This period is the time the buyers continue their due diligence and complete inspections. The buyer pays for this option period and in return has the unrestricted right to terminate at any time for any reason. Any repair amendments should also take place within this period. I watch properties very closely in the option period.. sometimes you see them go back active pretty quickly due to buyer change of heart.

PS: Pending continue to Show - For reasons determined by the seller, they have continued to show the home although a contract has been accepted and through the option period. Sellers may choose to keep showing the home if there is a contingency or while waiting for final financing approval as determined in the Third Party Financing Addendum.

P: Pending - Option period complete, contract is waiting to close. No showings will be allowed through CSS.

I'd be happy to check on a specific property you want more information on. Feel free to send it my way!

Darby Grimmett
Keller Williams
darby@darbygrimmett.com
936-827-9217


about 7 months ago
Bronze
Beverly Schulz
about 7 months ago
Hi, Ben - This is a good question as buyers often wonder if they should look at a house that's in this situation. The advantage to a buyer is knowing ahead of time that an offer has already been made so you may not be able to buy the house, but also that the current offer may fall through. So you don't get your hopes up, but if you're ready to move quickly (you've been pre-approved for financing and are ready to move) you may be able to make an offer if the opportunity presents itself. The seller may be taking backup offers as well, so if the property is one you're interested in, you can begin a conversation and let the seller know you're interested. Working with a realtor can help negotiate this less traditional path and, if needed, help you find an alternative property if this one stays under contract.

Bev Schulz
Step-by-Step Realty
Zarco Properties, LLC - Broker


about 7 months ago
Diamond
Francois Delille
about 7 months ago
Hi Ben,
It means the sellers still wants to show the property although they are already under contract. Typically a seller does that when he does not trust the buyer will close quickly or when the negociations after inspections are tough. I have purchase houses that were under contract before by simply calling the listing agent and figuring out what the situation was.
I am glad to help you more,
francois@cozy-homes.com / 713 397 8857.


about 7 months ago
Gold
Mark McNitt
about 7 months ago
Hi Ben,

Why would you want to view a home if the home has a contract and is "Pending" or pending to close? Any why would you and your Realtor want to look at this home? Because the Buyer that has the contract on the home now has not removed one or more contingencies. The most common is the financing contingency. Until the loan is fully approved, the Buyer cannot buy the home. There is a chance the contract could fall apart. You would have an opportunity to present a back-up offer now. If the 1st Buyer cannot close, your back-up offer would fall into place with all negotiated terms.

Now the odds of this happening where your back-up offer would take over are slim. But if you simply cannot find another home, this might be an option and then you hope the 1st Buyer does not close. Otherwise you simply keep an eye on it and when if it comes back active, then you make an offer with everyone else. Your Realtor can explain the different "Pendings" and how they are interpreted. If you need assistance and want to know a faster way to track new listings, let me know.

Mark McNitt, Bernstein Realty
m 832-567-4357
www.MarkKnowsHouston.com


about 7 months ago
Bronze
Elizabeth Edds
about 7 months ago
Hi Ben
Under Contract - Continue to Show is a status that we as Realtors use when the property we had listed has an agreed upon contract. That contract is being held at a Title Company with Earnest Money attached. It also means that other buyers may go and see the home, accompanied by their Realtor. They may want to put in a back up offer if they are interested. Great question!


about 7 months ago
Bronze
Ferdana Johnson
about 7 months ago
It's simple picture it this way. You have a baby Ruth candy bar. When it's rapped it's closed. When its un-rapped and chocolate is showing it's available.
Under Contract -continue to show!


about 7 months ago
Gold
Dominik Szabo
about 5 months ago
Dear Ben,
The simple explanation.
Under Contract -Continue to show
The Seller is worried that the buyer may not qualify for the loan, and would entertain a backup offer for the property.

Dominik Szabo
UTR - TEXAS REALTORS
(832) 844 1724
DominikRealtor.com
** The Doctor of Real Estate in Houston Texas **
" Professional, Courteous, and Informed "


about 5 months ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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