Home Buying in 32808>Question Details

Chelle3290, Renter in 32808

Our offer for a home was accepted but the house says active why?

Asked by Chelle3290, 32808 Fri Nov 5, 2010

When will it say sold?

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Answers

21
Hope it says SOLD buy now, that was almost three years ago....

Vincent Warren Paige, Jr.
REALTOR® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail:vince@thepremiumproperties.com
0 votes Thank Flag Link Mon May 13, 2013
I hope it's sold by now! This was back in 2010!
0 votes Thank Flag Link Fri May 10, 2013
Once contract is fully executed, listing must pend within 24 hours have your agent watch and ask for escrow receipt
0 votes Thank Flag Link Fri May 10, 2013
It is best to wait for 48 hours, once it has closed. The realtor, otherwise will list the home as pending. It is the responsibility of the listing agent to make this notation.
Web Reference: http://www.olgarubin.com/
0 votes Thank Flag Link Fri May 10, 2013
The MLS will show active, pending, and closed. Allow 24 to 48 hours.
0 votes Thank Flag Link Fri May 10, 2013
In Florida, the MLS will show sold the day you close or the next business day. It is up to the Real Estate Broker Office to change the status in MLS. If you are checking other sites other than MLS they may not show closed for any given length of time. Realtor.com is a direct feed from MLS so that should be updated within 24 hrs. If you are under contract the status will say either Pending or active with contract depending on the purchase agreement, but it isn't "sold" until it closes. Hope this is helpful.
0 votes Thank Flag Link Fri May 10, 2013
3 years ago!
Do you think it is still active?
0 votes Thank Flag Link Thu May 9, 2013
Each Multiple Listing Service is independently owned and operated, with its own specific rules regarding listing status. I choose to believe that the listing agent is following the rules and not being "lazy," that is inappropriate and uninformed rhetoric that harms the profession. Active, pending with contingencies, pending and sold are just some of the ways listings can be designated. Call the Board of Realtors with which the listing is posted if you have a question. "Sold" generally means just that, title has been passed and the transaction recorded.
0 votes Thank Flag Link Thu May 9, 2013
A lot of agents are just lazy with changing the statuses. It literally takes 2-3 minutes to log in and make the adjustment. Its unbelievable and very frustrating to me when there is a great property and I call the agent and they say 'its not available' and will change the MLS when they can....
0 votes Thank Flag Link Mon Nov 22, 2010
That is a great rule. I am a listing agent and I love to put up a sold sign and turn it in as a pending sale. I get tired of all the agent calls and I want the buyer to feel the pride of ownership right off the bat. If the buyer thinks the seller is still looking at offers, the buyer may keep looking for other homes.

That being said.

In California the buyer can pretty much back out unilaterally the first 17 days. Some agents keep the property on the market until the buyer removes that first major 17 day contingency, "accepting the condition of the property."

I sure would feel insecure about hiring an appraiser and a home inspector thinking the seller may be looking for a better offer.

Sindy
Re/Max
(562) 433-3777
Web Reference: http://www.SindyVerdugo.com
0 votes Thank Flag Link Sat Nov 13, 2010
Hi Chelle,

Realtor Kathy below is correct. If the listing MLS id# starts with an O then once you have a signed contract (even if it is a short sale contingent on 3rd party approval) the listing must be moved to "pending" status within 48 hours of the contract.

Do you have a copy of a signed contract in your hands or is is merely "verbal". Until you get the signed contract back you don't have a contract because in Florida it MUST be in writing.

If the listing agent is a member of the MFR MLS system and is illegally keeping the listing in Active status, your agent can annonymously report the inaccurate listing online. You may want to suggest that to your Buyer's agent.

It will not appear as SOLD until you actually close.
0 votes Thank Flag Link Sun Nov 7, 2010
You are obviously in the Orlando Florida area. In the multiple listing service for the Orlando area, when a home has an executed contract (one that is signed by both buyer and seller) that property must be put "pending" If it is a short sale and both buyer and seller have signed the contract, it still must be put "pending." An approval by a bank is only a contingency on a contract - the contract itself is still considered an excecuted contract, thus your home should be listed as "pending." tMy suggestion is to contact your agent and make sure the change is made in our multiple listing service. That agent will receive a violation notice if it is not changed.
0 votes Thank Flag Link Sat Nov 6, 2010
Chelle,
The Multiple Listing Service (MLS) will say "Sold" when the purchase and sale has actually closed.

In the meantime, the MLS will show the home as "Contingent" if there are conditions to be met prior to closing, or "Pending" if those conditions have been met, or, in some Multiple Listing Services, if the sale is a short sale or foreclosure, it may remain as "Active" in order to encourage back-up offers.

Chelle, your agent can tell you how things work in his/her MLS. Good luck with your purchase.

Warm regards,
Maggie Hawk, REALTOR
Watson Realty Corp.
0 votes Thank Flag Link Sat Nov 6, 2010
C, Sometimes it takes a day or two for the Realtor to to update the MLS, but it is the Realtors responsibility to do this. Hope this helps.
0 votes Thank Flag Link Sat Nov 6, 2010
What did your agent tell you was the reason? No point in asking here, if you haven't asked them first. You are paying them, you know. Get your monies worth.
0 votes Thank Flag Link Sat Nov 6, 2010
Perhaps the agent hasn't changed the ststus hoping to get another offer as a backup. Maybe the agent forgot to change the status. If its a short sale, they may not change the status until the bank approves the sale. I would just call and ask.

Kevin Cloutier
Southern Premier Realty
0 votes Thank Flag Link Sat Nov 6, 2010
it will stay active until you have a contract signed by buyer an seller and the EMD deposit is with the closing agent. If all thsi has been done then the listing agnet, or sometimes a admin person in the Brokers office. ( not all broker give permission for their agent to access MLS ) will need to change to pending
0 votes Thank Flag Link Sat Nov 6, 2010
Listings are supposed to be changed quickly, but it's the listing agent's job. I had a deal fall apart 10 days ago because the seller defaulted and it STILL shows as under contract in the MLS.
0 votes Thank Flag Link Sat Nov 6, 2010
Have your agent ask the seller's agent to change the status in the multiple listing service. Sometimes it's simply an oversight, other times agents are fishing for a back-up contract (more often the case in short-sales and foreclosures). If you have a ratified contract, it should be changed promptly.
0 votes Thank Flag Link Sat Nov 6, 2010
Is it a short sale, or bank owned? Also, how long ago did the offer get accepted? Do you have a fully executed contract from the sellers?
0 votes Thank Flag Link Sat Nov 6, 2010
Chelle:
Often homes will remain active until all the paperwork related to the contract has been executed by both parties. In the case of foreclosures that include the addendum's. Sometimes they also wait for the escrow deposit to be registered.

Tony Vega
Charles Rutenberg Realty
0 votes Thank Flag Link Fri Nov 5, 2010
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