Home Buying in 06704>Question Details

Jhr1984, Home Buyer in 06704

what does under deposit continue to show mean?

Asked by Jhr1984, 06704 Sat Feb 13, 2010

Help the community by answering this question:

Answers

2
This means that an offer was accepted on a home, but the seller still has an opportunity to market their home for sale to other prospective buyers. "Show" status, under the CT MLS system, is the first stage of being on deposit. A seller has accepted an offer, but the offer is contingent on a number of factors including: home inspection, financing contingencies, attorney approval & the buyer putting forth all deposit money. Until these contingencies are met, the seller's agent will continue to market the home. Homes on "Show" Status are still featured in internet advertising, and many agents still allow prospective buyers to preview the home.
When a home goes on "DEPOS" on "ON DEPOSIT" status, then the home is no longer marketed to buyers.

If you have any other questions, you can reach me directly at Scott@CTProperty.com or on my mobile at 203-815-9118. I'm a Realtor on the shoreline and have helped many buy and sell homes.

Regards,
-Scott Silverstone
Page Taft Real Estate
203-815-9118
CTProperty.com
Web Reference: http://www.ctproperty.com
1 vote Thank Flag Link Sat Feb 13, 2010
Hi,

It means the house is under deposit, however the listing agent is indicating that it should still be shown. Most likely there is a deposit on it but the house probably hasn't been inspected yet or the buyer's loan has not been approved yet. Both the inspection and the mortgage process are "outs" for a buyer, so the listing agent wants to make sure they cover all their bases in the case the deal falls through.
0 votes Thank Flag Link Sat Feb 13, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer