Hi Jennifer,

To add to what Beth has answered, the home is still advertised because it is a short sale contingent on bank approval. The seller has approved the offer, but the bank, who owns the mortgage, may not. As of today on the Santa Maria Multiple Listing Service, there are over 214 homes and condos considered contingent due to short sales. So most likely, you are looking at a home that has an offer into the bank for approval. There are clauses in short sale contracts stating the seller may still advertise and consider other offers, besides the one that is currently submitted to the seller's mortgagee.

If you are unsure about the home you see advertised, please call me and I can explain further details on that specific property listing. Also, if you are looking for more information on short sales, you can find it on this site as there are many questions that have been answered regarding the process and definition of a short sale.

Hi Jennifer!
When a listing is "contingent" it actually is still for sale. The "contingent" category means that there is an accepted offer on the property but it is contungent on something else happening before the property can actually close. Most often the buyer has another house that must close. In a contingency, the seller can still market the property and consider any offer that would have better terms than the one they are currently under contract with. So, if someone else presented an offer, there might be a kick out clause where the first buyer would have to release the contingency and buy the property or let it go tho the second offeror! please feel free to contact me if I can answer any more questions or clarify this for you.
Thanks,
Beth