"Pending Continue To Show"
what does this mean?
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Under the MLS rules "PS OR Pending Continue to Show" is: Used for listings currently under contract
but are still available to show. Listings
a contract with a contingency and
taking back-up offers should be Pending
Continue to Show.
but are still available to show. Listings
a contract with a contingency and
taking back-up offers should be Pending
Continue to Show.
Hi Chuck,
Pending Continue to Show - For reasons determined by the seller, they have continued to show the home although a contract has been accepted (and usually 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.
In a contingency situation if the seller receives another offer they want to entertain they have to first give notice to the current buyer under contract. That buyer then determines if they want to waive the contingency, deposit additional earnest money, or terminate.
Additionally, sometimes the sellers are willing to accept a back up offer. If something happens to the current contract then the back up offer becomes executed!
Have your realtor® contact the listing agent to gather information and keep informed.
I actually had a client interested in a home that was PS. I called and spoke to the agent and asked to be notified immediately if something happened to the current contract. Two days before closing financing fell through an the home was going back on the market. We immediately wrote an offer and are closing next week!
It does happen.. always a good idea to keep watching the property just in case!
Feel free to contact me if you have any further questions. I'm happy to help!
Darby Grimmett
Keller Williams Realty
936-827-9217
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Pending Continue to Show - For reasons determined by the seller, they have continued to show the home although a contract has been accepted (and usually 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.
In a contingency situation if the seller receives another offer they want to entertain they have to first give notice to the current buyer under contract. That buyer then determines if they want to waive the contingency, deposit additional earnest money, or terminate.
Additionally, sometimes the sellers are willing to accept a back up offer. If something happens to the current contract then the back up offer becomes executed!
Have your realtor® contact the listing agent to gather information and keep informed.
I actually had a client interested in a home that was PS. I called and spoke to the agent and asked to be notified immediately if something happened to the current contract. Two days before closing financing fell through an the home was going back on the market. We immediately wrote an offer and are closing next week!
It does happen.. always a good idea to keep watching the property just in case!
Feel free to contact me if you have any further questions. I'm happy to help!
Darby Grimmett
Keller Williams Realty
936-827-9217
To add on to her answer: They continue to show the home just in case the deal does not go through. They are able to accept a back up offer just in case...and those just in cases happen!
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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