However, recently this status has been used for short sales. when a seller accepts an offer and sends it to the bank the agent will often want back up offers in case the bank does not approve or the first buyer drops out while waiting. In this case the seller can not kick the first buyer out if they get a better offer.
The PR Status generally means that there is a contingency in the contract that has yet to be removed. PR directly means Pending with Release.
This usually means that they are willing to take a back-up offer in case the current offer falls though
If you are interested in writing and offer or backup offer on a property, let me know.
Brendan Aiello â€“ Cashin Company Realtors