What does PSHO mean?

Greetings! Thanks for your question. In the Multiple Listing System (MLS) that the Realtor's Association uses, there are several statuses that listings of properties can fall within. First, of course is the ACTIVE listing - when the property is totally free from any contracts and is open to offers from potential buyers. Second, is the OP / Option Pending status. This is where the seller has accepted an offer from a buyer and there is a fully executed/signed and legally binding contract - BUT, the buyer has paid a small option fee to the seller, for the right to opt-out within a certain agreed upon period. Option periods are typically between 7 -15 calendar days and buyers can Opt out / terminate the contract for any reason during that period. Typically during the option period, buyers will have inspections, and then negotiate repairs with the seller. If things change from the original contract, a Contract Amendment must be agreed to by both buyer and seller and signed before the option period expires. If the buyer elects to proceed beyond the option period, THEN, the listing agent has the choice to change the status to either PS (pending, continue to show) or P (pending, no more showings). During these stages, the buyer is often finalizing their mortgage financing. A home with a PS status will still be visible and accessible on all internet, home listing websites, whereas a home with (P) pending, no more showings status, will no longer even be visible to consumers. Most sellers decline showings of the home during this time. Though it is possible that a listing in PS or P status can still come back on the market, the odds are greater that it will not and that the transaction will proceed to final closing. Thus, the buyer will need to decide if they should move on and focus on those Active listings or wait the 30-60 days to see if that listing in PS or P status falls through, giving them a chance for a contract with the seller. Best wishes!

The sellers has elected to continue to show the property to prospective buyers in hope of getting a "back up" offer in the event the current offer doesn't go threw, they have a "plan B." God''s Property Realty Faith Broker/Owner Cell: 281-743-0243 www.godspropertyrealty.com

The home is under contract and they are past the "option period" where the buyer can terminate the contract w/o the risk of loosing their earnest money. Sometimes the seller will continue to allow showings for a back-up contract, but most sellers have started packing and are making arrangements to move and do not want to show the home any longer. Have your agent ask the listing agent the particular situation to find out if you can still see the property.

As stated, the property has a contract but the Seller/Agent has elected to continue showing it to (other) potential buyers. Why? This is a strategy on the part of the Seller/Agent to obtain the optimum use of the marketing "buzz" surrounding the property now. In the event the current contract fails (for any number of reasons) they will have back-up offers in-hand or close by and will not have to start marketing the property from "scratch" but will be able to select from one or more back-up offers waiting in the wings.

This status is often used when the current contract has contingencies to satisfy, for example the appraisal. The listing agent, under the instructions of the seller, are inviting other buyers to see the property in the hopes that another buyer will submit a back up offer on the property. Should the first offer terminate, the back up offer then becomes the contract.

This would mean Pending continue to show. It usually is just PS. Meaning the property has a contract on it, but the seller is still showing in-case anymore people want to put a back up contract, just in-case the contract falls through.

PSHO means the home is under contract. Some agents list PSHO because they would still like buyers to see the home just in case the current contract falls through. Bear in mind that the home is under contract, so in this market it might not be a good use of time to see a home that already is under contract. If it is a home you are truly interested in, your agent can contact the listing agent to express interest and see if there is a likelihood it might come back on the market (i.e. maybe the buyer's loan is having issues). You can have the agent let you know if this happens so you can see it first, or view and put in a back up offer in case the first contract terminates. Your Realtor is the best source for options and information.

PSHO means pending continue to show. The sellers have accepted an offer on the property but they still want to have their property shown to potential buyers.