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Posted by
Jannice Gomez

Need a List of Status Meanings

Good Morning, I've been using your App for about a month and I don't quite understand what the different status mean. For example, I may receive an alert on a property that says Under Contract, then Under Contract Pending. What is the difference? Can you please send me a list of statuses and their meanings, so I can have a better understanding of your App? Thank you!

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Need a List of Status Meanings

By Jannice Gomez   
Posted on Apr 06, 2017 in Topic: General
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Good Morning, I've been using your App for about a month and I don't quite understand what the different status mean. For example, I may receive an alert on a property that says Under Contract, then Under Contract Pending. What is the difference? Can you please send me a list of statuses and their meanings, so I can have a better understanding of your App? Thank you!
Status: Open
Viewed: 908
Asked by: Consumer
Posted: 8 months ago
Topic: General
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Bronze
Shareece Dumont
about 8 months ago
Hello Janice. A listing begins in ACTIVE status. Once the property is under contract, it typically goes into OPTION PENDING (OP) status, meaning the buyer has an option period, or agreed upon days to investigate the home, have inspections performed, etc. Option periods vary by contract and are agreed upon between the buyer and seller. Once the option period has passed, the contract progresses into PENDING (P) status until it closes, at which time the status progresses to CLOSED (CLSD) status. Please feel free to call me. I am happy to answer any additional questions and further clarify the status definitions and the process.


about 8 months ago
Gold
Dominik Szabo
about 8 months ago
Dear Jannice,
Here is the brief summary of all of the statuses of Homes on the HAR MLS:
-Off Market - Currently the Property is not listed on the MLS
-A-Active - The Home in on the Market and listed with a Broker on the MLS
-OP-Option Pending - The home seller has accepted a Contract and the home is under the option period (where the buyer may still cancel the contract)
-P-Pending - The home seller has accepted a Contract and currently the financing for the home is being arranged
-S-Sold - The home seller has successfully completed the transaction with the buyer
-X-Expired - The home was previously on the market and did not sell,
-W-Withdrawn-The home seller has decided to remove the home from the MLS

Let me know if you have any questions, or there is anything I can help with,
Kind Regards,

DOMINIK SZABO
UTR - TEXAS REALTORS
(832) 844 1724
Residential
Commercial
dominikrealtor.com
sold@dominikrealtor.com

** Professional, Courteous, and Informed**


Source:


http://dominikrealtor.com/2017/04/12/summary-of-statuses-on-the-har-mls-houston-texas/

about 8 months ago
Bronze
Robyn Lyn
about 7 months ago
Hi Janice,

Here is a link to a .pdf with the HAR status definitions:

http://web.har.com/mls/StatusDefinitions.pdf

The app shows "Under Contract -" as part of the listing status. When the app lists "Under Contract -" before the status definition, that means the home has a contract where a buyer who has made an offer and a seller has accepted the offer. The status details regarding the accepted offer are provided after the "Under Contract -" label. Sometimes sellers choose to continue showing their homes up until closing so you would see "Under Contract - Pending continue to Show." Other times sellers stop showing their homes once they get an offer so you will see "Under Contract - Pending." When you see "Under Contract - Option Pending," that means that there is a current option on the home and the buyers are having their inspections done prior to either the contract moving forward to the Pending status, the closing is simply waiting on both buyer approval and property approval from the underwriter, or being terminated by the buyer if they choose not to proceed with buying the home within their negotiated option time frame. The option period protects the buyer from other buyers moving in and buying the home while they are having their inspections. A seller can accept a back up offer but the buyers associated with the "Option Pending" status are in first place until the option period is over and they decide what they are going to do.

Since you are using the HAR.com App, you may want to use the HAR branded app. The HAR Branded App gives you premium content not on the unbranded app:

1) Days on the Market - this shows you how long a property has been listed
2) The PAR (Property Archive Report) - this shows you all of the status changes on a home
3) The actual sold price of homes - not an estimate or range

Text me: "Send me an Invite to your Branded App" and I'll get you set up! 832.278.8997

Robyn Lyn
Broker | Owner
Robyn Lyn Realty
robyn@robynlyn.com


Source:


http://web.har.com/mls/StatusDefinitions.pdf,\nwww.robynlyn.com

about 7 months ago
Bronze
Kerrie Laminack
about 7 months ago
I see that the meanings have been posted for you however another thing that people have expressed to me as confusing is that many properties listed as ACTIVE are not responding to calls or inquiries. This is because although the Seller has not yet accepted a contract they may have Multiple Offers pending and it is listed only in the agents section of MLS that you as a consumer cannot see. It can be an issue for we agents as well because it is not just a tab we have to look up the property and look into agent remarks and this takes a few steps to see. This market is very much a Seller's Market so I can understand that it can cause some frustration. Also we have many rentals that are the same way but are not even necessarily marking the agent remarks section. As an agent I find it extremely frustrating that I show my clients and am not getting a response at all from the listing agents either. This is something I will be working on trying the improve via working with our local MLS board. Is this maybe WHY you are asking? I hope this extra information helps.


about 7 months ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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