Home Buying in Marin County>Question Details

Sarah, Other/Just Looking in Marin County, CA

Short sale - at what point is the property "contingent - no show"?

Asked by Sarah, Marin County, CA Wed Oct 10, 2012

Sellers have accepted an offer, listing agent apparently has sent all the paperwork in to the bank - buyer is in the "45 day" waiting period awaiting the bank to approve or send counter/terms. Property all of the sudden mid-way through the 45 day wait shows up as "Contingent - No Show" on real estate search sites - no word from the listing agent to the buyer's agent. What's happening? Is the house supposed to go as contingent once the initial offer is accepted by the seller and sent off to the bank? Did the listing agent throw offer under the desk and take a better offer after the seller accepted the first one?

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Hi Sarah:

If you have the accepted offer, the Contingent No-Show would be for your offer. Seller just does not want to show the house to others during this long waiting period for lender's approval. Happens a lot now a days with short sale or sellers' request.

It does not mean they accepted another offer - you do have an accepted offer, right?

Sylvia
0 votes Thank Flag Link Sun Oct 14, 2012
Sylvia Barry,…, Real Estate Pro in Marin, CA
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It also depends on a local MLS rules and requirements. In my MLS it would be "Hold- do not show''.
I agree with Ron, the word 'contingent' is confusing in this situation.
Well, if the seller accepted your offer , you should know about it( yet, a bank will make a final decision about price and terms). Otherwise your offer will be back up.
I don't believe that ''once the initial offer is accepted by the seller and sent off to the bank? Did the listing agent throw offer under the desk and take a better offer after the seller accepted the first one''.
Just be patient, SS takes time.
0 votes Thank Flag Link Sat Oct 13, 2012
The SELLER has not accepted your offer:
The SELLER is not the homeowner in this case; the homeowner is pretty much a "rubber stamp".
The Bank is the final approval, and the the one who will put you under Contract.
Until you are under contract, the Listing Agent can show the house, accept other offers, and put it as PENDING or even ACTIVE; it isn't under contract!
Listing Agent may call it "45 day waiting period" but in reality, he does not know how long it will take.

Don't confuse the word CONTINGENT; that would refer to your Inspection and Loan Contingencies. It has nothing to do with the STATUS.
Relax; you might as well, you have no control.
0 votes Thank Flag Link Wed Oct 10, 2012
The property should be reported as contingent, continue to show within 24 hours of acceptance of the offer by the seller. If the property goes pending, no show during the 45 day wait, the listing agent reported the sale at that time on multiple listing. No professional would let the offer sit and wait for a better offer to come in. My opinion is this is probably what happened. What of no communication with the buyer's agent? We are not privy to the line of communication, but it seems there was little or none.
0 votes Thank Flag Link Wed Oct 10, 2012
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