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Bt, Other/Just Looking in nj ny

How long can the listing show as active on the MLS ( monmouth county ) while there is already a contract?

Asked by Bt, nj ny Sun Jan 13, 2008

How long can the listing show as active on the MLS ( monmouth county ) while there is already a contract going on between the buyer and the seller ?

I see a under contract sign on th yard sign in front of the house but the MLSlisting shows as active.

Can the agents still show thje house to interested buyers while already a contract is in process ?

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Answers

7
Or, if it was a bank owned property it is often left Active while the bank processes whatever they do, taking weeks. Personally I think we all should mark them A* for attorney review. As agents we are not consistent among ourselves unfortunately.
1 vote Thank Flag Link Thu May 8, 2008
If there is a sale contingency in the sales contract, and the property will be continued to be shown, it may remain in the system as active. It does seem inconsistent to place a sign on the yard and not update the MLS.
1 vote Thank Flag Link Sun Jan 13, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
BT,

The Monmouth/Ocean MLS only has the three options for a listing status, active, under contract or closed. In this market, many sellers are willing to take a home sale contingency with the understanding and attorney approval that the home will continue to be marketed. What should be happening is that when an agent calls the listing office to verify availability they should be told that the home has a contract with a kick out or in the agent notes (not visible to the public); it may mention that the home has a contract.

If you want additional information on a particular home, send me an email and I’ll be happy to check it out for you.
0 votes Thank Flag Link Sun Aug 10, 2008
Once a house is "Under Contract" (out of attorney review), the status in the Monmouth MLS must be changed to "Under Contract". As some have already pointed out, the Monmouth MLS does not have any designation for when a property is in attorney review. However, if this property is still in attorney review, there should not be an "Under Contract" sign on it.
0 votes Thank Flag Link Sun May 11, 2008
Momouth/Ocean MLS does not have an A*.

I am a member of Garden Sate, Middlesex, Monmouth/Ocean, and Trend. Coding options vary in each of these MLSs.
0 votes Thank Flag Link Thu May 8, 2008
Deborah Madey, Real Estate Pro in Red Bank, NJ
MVP'08
Contact
Deborah is correct. However, Monmouth mls does not have an active under contract status. We are active, under contract, or closed. It is most like a home sale contingency where the attorneys have agreed to market the home and take back up offers, should the contingency not be met. Therefore, it doesnt go under contract in the mls.
0 votes Thank Flag Link Tue Jan 15, 2008
If all inspections are completed and contingencies have been met and/or released then the property is pending and should be stated in the MLS. If there are still contingencies on the contract alot of realtors will wait before they put the contract as pending or sold. Your realtor should at least put it in the MLS as active under contract. Talk to your realtor and see why the property is still listed as Active. They should be able to tell you. If it shouldn't be they can discuss it with the listing agent and have it corrected.
0 votes Thank Flag Link Sun Jan 13, 2008
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