Home Buying in 85705>Question Details

Mike Humphrey, Home Buyer in Arizona

What is Contingent/CAPA?

Asked by Mike Humphrey, Arizona Fri Nov 23, 2012

I know what Contingent means. I know what Capa means. Ive never seen Contingent/CAPA before

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9
Our Tucson Multiple Listing System does not use these terms together. In the MLS, these are "statuses" of homes for sale. This is used to tell a prospective buyer or agent the general status of the sale, and sometimes it is necessary to call the listing agent to gather more information.

If there is a system that would allow the use of both together, I could assume that the agent that chose the Contingent/CAPA status may mean that the home is in contract, but they would like to accept other or backup offers. The correct status would then be CAPA, which means "can accept purchase agreement". There may be a stipulation in the existing contract that the seller can accept other offers with notice to the first buyer to remove his contingency. It's a guess.

CAPA does not apply just to short sales, although in today's market it is typical to see this status on many short sales that are waiting for the bank to respond after a seller has accepted. A good use for CAPA status is when a seller has accepted an offer that is contingent upon the sale of another home, and their current contract allows for a replacement contract if the buyer in first position can't remove the contingency.
1 vote Thank Flag Link Mon Aug 26, 2013
Spirit has the best explanation of the two statusus (stati ??), but I also have never seen them together. Where did you see this ? Can you provide us with a link ?
1 vote Thank Flag Link Fri Nov 23, 2012
longrealty.com
Flag Sun Apr 14, 2013
Once a seller accepts an offer on a listing, it is said to be Active Contingent. If the listing is a short sale, and the seller has accepted it is considered Active Capa. Because they can still accept purchase agreement, in fact that is what CAPA stands for = Can Accept Purchase Agreement.

Please keep in mind free sites like Zillow and Trulia are not very accurate with their listings, many times I am contacted by an interested party and the property is already under contract or even sold.

If you have real estate questions, I highly recommend you pick & work with a local Realtor. Most of the time there is no cost to the buyer when working with one, good to have a relationship. Kindly click on my profile to lean more about me, please read reviews written by past clients.

Best of luck.

Spirit Messingham, PLLC
3rd Generation Full-Time Realtor®
Tierra Antigua Realty
Direct (520) 471-6900
Fax (866) 365-5208
SpiritRealty@Cox.net

Spirit
1 vote Thank Flag Link Fri Nov 23, 2012
Hi Mike,
I have never seen them combined either. As the other agents have mentioned, both of these statuses state that the seller has accepted an offer and is waiting for all of the other contingencies(appraisal, home inspection, final loan approval) to be met. You can submit a backup offer; however, you will be in secondary position.

Take Care,
Eseosa Elaiho
1 vote Thank Flag Link Fri Nov 23, 2012
Mike,

They are actually 2 differrent statuses but both indicate the property has an accepted contract with contingencies that may allow another offer to be accepted in a back up position.

Good luck.

David Winter
Long Realty
1 vote Thank Flag Link Fri Nov 23, 2012
I have not seen them combined together. However, I do know that someone put an offer on the property so they changed the status. For more questions contact me at AzProperties@Ymail.com
0 votes Thank Flag Link Fri Nov 23, 2012
This means the seller has accepted an offer but there are still other terms that must be worked out.
0 votes Thank Flag Link Fri Nov 23, 2012
That means the sale has an accepted offer but they are willing and able to take backup offers. It is probably a short sale and will take up to 6 months to complete the sale. If you have the time and patience, a short sale will probably work for you and I encourage you to put in back up offers. Let me know if we can help you as we do short sales as a major part of our business.
0 votes Thank Flag Link Fri Nov 23, 2012
I haven't seen that before either. I don't think that is a real status. Where did you see that? It can't be both.
0 votes Thank Flag Link Fri Nov 23, 2012
Yes they can be combined. “Contingent” means we accepted an offer. “CAPA” means we Can Accept Purchase Agreement(s) as backups.

We have accepted an offer on our home in Arizona, and no it’s not a “short sale”. I don’t know where that information is coming from in prior posts?

Our home is still for sale, listed as "Contingent/CAPA" as we are accepting offer(s) in the event anything happens prior to close of escrow. The current buyers are pre-qualified, have put down earnest money, the home inspection is completed, and all of the initial paper work is done, including paper work for the title company.

We don’t even have “sale pending” hanging on our yard sign. Long story short, the home is not sold until the keys are handed over, so as a seller you don’t want offers to stop coming in, or hinder that in any way…
Flag Sun Feb 24, 2013
On my property update from Longs. I received it today.Probably a typo. Somebody had to much turkey and still sleepy!
Flag Fri Nov 23, 2012
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