Vincent Warren Paige, Jr.
REALTORÂ® | 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
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.
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.
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.
Maggie Hawk, REALTOR
Watson Realty Corp.
Southern Premier Realty
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.
Charles Rutenberg Realty