Home Buying in 33012>Question Details

Trese, Other/Just Looking in 63730

When a REO list says off the market dose this mean sold? Or can you still make an offer on it.

Asked by Trese, 63730 Thu Jan 26, 2012

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Off the market means just that.. When a property is off the market the seller no longer is selling the property for whatever reason.. Sometimes it is because of title issues, or a possible squatter has taken over the property, it could be a short sale and now the property was foreclosed and will re-list as a foreclosure, also it could be as simple as the seller may not want to sell anymore. Off the market properties can be for many reasons.

When a property is off the market you will have to wait till the seller is ready to place the property back on the market.
0 votes Thank Flag Link Mon May 7, 2012
Sometimes it takes the property off the market because it has an end date for receiving bids. On the other hand depends on whether the Bank requires to make any arrangement that property can temporarily put out of business.

Cecilia Richard
Real Estate Consultant
Real Living First Service Realty
Direct 305 742 3688
Fax 954 704 3733
e-mail ceciliasteam@gmail.com
http://www.RealLiving.com/cecilia.richard
http://www.realtor.crichard.com
0 votes Thank Flag Link Thu Jan 26, 2012
Trese,

Typically off the market indicates the seller no longer has the property available for sale at the present time. A bank may take a home off the market for a variety of reasons such as problem with providing clear title, legal claim from the previous owner, or a physical condition of the property that needs to corrected. Best suggestion is to call the listing agent to find out when the home will be back on the market.

Thanks,
Carol Perdew
Prudential California Realty
(209) 239-7979
Carol@PerdewHomes.com
http://www.CentralValleyHomes.com
DRE 985176
0 votes Thank Flag Link Thu Jan 26, 2012
Depending where it says it and how it could mean 2 things. In either case a call to the agent would be needed to know if it is under contract and expected to close or it means they gave up selling it for any of a number of reasons. Often there was something found they need to deal with before relisting it.
0 votes Thank Flag Link Thu Jan 26, 2012
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