What is PS in property status?
In the real estate alphabet the letter P is for Pending and the letters PS is for Pending Continue to Show. There are more commonalities than differences between the P and PS statuses that I decided to discuss them together.
What does contingent listing status mean?
A property listed as contingent means the seller has accepted an offer, but they’ve chosen to keep the listing active in case certain contingencies aren’t met by the prospective buyer. If a property is pending, the provisions on a contingent property were successfully met and the sale is being processed.
What does active S mean in real estate?
What Does It Mean When a House is Active? Most of the properties listed in the multiple listing service (MLS), the database where real estate agents list homes for sale, will have an active status. That’s because an active status means that the home is currently available for sale.
What does active R mean in real estate?
The seller of a house with the status “active first right” has accepted an offer. The status also indicates the seller will entertain more offers.
What is property Status S?
Closed (S): The sold status is for all properties entered in the MLS that have been sold and closed. Hold (H): Hold is for properties that have been temporarily removed from the active status and are still listed with intention of returning to active status in a short period of time.
What does R stand for on property status on encompass?
Property Status: S = Sold. PS = Pending Sale. R = Rental (Investment)
Can you put an offer on a house that is contingent?
In most cases, putting an offer in on a contingent home is an option to consider. Although it doesn’t guarantee you’ll close on the home, it does mean you could be first in line should the current contract fall through. Putting an offer in on a contingent home is similar to the homebuying process of any active listing.
What does active P mean?
“Active” means a property is for sale, and the seller is seeking offers. “Pending” means the property is still technically for sale, but someone has made an offer.
What is the difference between active contingent and contingent?
A contingency is a condition that must be met during a specified period of time. Once the condition is met, the contingency is cleared and the sale moves forward. “Active contingent” means the seller accepted an offer that includes one or more contingencies.
What does P mean on MLS?
Pending (P): The pending status is for properties that have an accepted contract and the seller has instructed their agent to cease marketing and/or showing the property. This property may still have normal contractual conditions (i.e. inspections, financing, etc.).
What is PS In encompass?
PS = Pending Sale. R = Rental (Investment)
What does H property status mean?
Hold
Hold (H): Hold is for properties that have been temporarily removed from the active status and are still listed with intention of returning to active status in a short period of time.
Is a contingent house bad?
No, contingent does not mean the house is sold. Contingent does however mean the seller has accepted an offer and a contract is in place. Again, contingent in real estate is solely referring to the period of time before closing when either party is responsible for meeting their end of the contract.
How long is a contingency on a house?
30 to 60 days
The contingent period usually lasts anywhere from 30 to 60 days. If you have a mortgage contingency, the buyer’s due date is usually about a week before closing. Overall, a home stays in contingent status for the specified period or until the contingencies are met and the buyer closes on their new house.
What is active contingent?
Active contingent is one of the many status updates given to a property listing. If a property has an active contingent status, it means the seller has accepted an offer from a buyer. However, the home sale isn’t finalized yet because certain contingencies need to be met.
What does SP mean in real estate?
SP. Screened Porch. Estate, Real Property, Property.
What does no primary housing expense mean?
○ No Primary Housing Expense ▪ Select if you are not obligated to pay rent OR you do not own the home where you live (for example, if you live with relatives and are under no obligation to pay monthly rent).
What does S PS R and H mean in encompass?
What does “contingent status” mean in real estate?
That doesn’t mean that it’s a done deal by any means, however (more on that next). A contingent status means that the seller has accepted an offer and the home is under contract. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the deal can close.
What does Ps mean on a rental property?
Property Status – S = Sold, PS = Pending Sale, R = Rental Property If the property doesn’t fall into any of these categories, i.e. a primary residence that is remaining a primary residence, nothing needs to be selected. Type of Property – Single Family, Condo, etc.
What is the difference between contingent and pending listing status in MLS?
The biggest difference between contingent and pending listing statuses in the MLS has to do with the presence of a contingency in the sale. Some contingencies, such as a home inspection or a buyer’s approval for a mortgage, must be met.
How do you respond when a property is labeled contingent?
When a property is labeled contingent, the key, he says, is to make the backup offer to the seller as attractive as possible. “Submitting a fair price, waiving contingencies, agreeing to buy as is, and showcasing a solid, local lender go a long way in showing you are committed and are a worthy buyer,” he says. Your message is on its way.