I do hope this is helpful.
"Offer-Show" on any listing (including a foreclosure) means that the seller has accepted an offer from a buyer but is continuing to show the property to other buyers until the seller is confident the accepted offer will close. If you look at a property that is an "offer-show" you can still put in an offer and the seller can accepted it as a "secondary" offer in case the first buyer backs out for any reason.
Please feel free to give me a call if you'd like to take a look at some properties in the Madison area.
Real Estate Broker
"Offer Show" means that the home has an accepted offer but an agent can still show it. In most cases the current offer will go to close but on occasion an offer will not stay together and there may be an opportunity to purchase the home.
Simply put, offer-show means that the Seller (or the bank in this scenario) has accepted an offer that a Buyer has submitted but is still allowing other Buyer's agents/Buyers to show or view the property. The offer that has been accepted is the PRIMARY offer once it has been accepted.
You are probably wondering why the Seller would continue to show the property if it has an accepted offer?
Occasionally, and a bit more common with distressed type properties (foreclosures, short sales), accepted offers will fall through and the transaction will not close. These transactions won't close sometimes for a variety of different reasons (Buyer can't get financing, complications with the bank with the foreclosed property or short sale, inspection goes bad, etc.). In order to try and protect against the chance that the PRIMARY offer may fall through the listing real estate agent will change the status of the property from "Active" to "Offer-Show". This status change represents to Buyer's agents/Buyers that there is an accepted PRIMARY offer in place while at the same time encouraging other Buyer's agents/Buyers to view the property and submit a SECONDARY offer behind the PRIMARY offer that has already been accepted. If the PRIMARY offer falls through the SECONDARY offer would then get elevated to PRIMARY position and that Buyer would then have the opportunity to try and purchase/close on the property.
So basically, the "offer show" status is a tool that the Seller will use to continue marketing the property even thought there is an accepted offer on the property. The idea is that if the original Buyer can't perform or the deal falls apart the Seller will have a SECONDARY Buyer/other interested party to fall back on.
Hope this helps! Feel free to call or email me anytime with any other questions!
429 Gammon Place
Madison, WI 53719