Question Details

Jessica Hayes, Other/Just Looking in Oceanside, CA

I have another question. My husband and I recently submitted an offer on a property that we were interested in

Asked by Jessica Hayes, Oceanside, CA Wed Dec 17, 2008

The offer recently became accepted by the bank. I am curious as to why it would still show up on your website and one other site that we are looking at. The property in question is located at 33653 Carnation Ave Murrieta, CA.

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Its a bank owned property.
0 votes Thank Flag Link Wed Dec 17, 2008
At the time a property goes "Under Contract" the Seller has some options... the choice to cease all marketing efforts regarding a property under contract, or... the Seller has the right to choose the option of continuing to market the property, show it and even solicit back-up offers as an added protection, in the event that the transaction fails to close for any reason. As long as the escrow period is proceeding in a timely manner and according to the terms of the contract... the Buyer has nothing to fear in terms of the property somehow being sold to another party. The signed contract between two parties is just that. It is a legally binding agreement between two parties to the terms indicated. As long as there is no default prior to closing... you the Buyer... should feel safe and secure in the knowledge that as of the contract Closing date... if all contractual terms have been met., by BOTH parties... the property is YOURS!
0 votes Thank Flag Link Wed Dec 17, 2008
They probably just didnt update it Jess or left it active to get calls off? make sure the board has it as contingent,or have your realtor call,and find out.


Web Reference:
0 votes Thank Flag Link Wed Dec 17, 2008

Properties will typically remain active until all contingencies have been met and the deal is clear to close.
0 votes Thank Flag Link Wed Dec 17, 2008
Up to agent update records. Many times listing agents are instructed by the bank cant remove from Active status till certain points of sales contract is completed by the buyer. We have been listing agents for banks our agreements post sales and remove from MLS do have instructions we must follow.
Web Reference:
0 votes Thank Flag Link Wed Dec 17, 2008
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