Home Buying in Tucson>Question Details

Tony, Home Buyer in Rose, Tucson, AZ

what is active -capa???

Asked by Tony, Rose, Tucson, AZ Thu Apr 12, 2012

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Hi Tony. You have some good answers here. There are three "Active" statusus (stati ?). "Active" alone, indicates that the home is not under contract. "Active Contingent" means that the home has an accepted contract, but there is a contingency. While there are other contingencies, this status is usually applied to the Inspection Contingency. Once the inspection period (usually 10 - 15 days) has passed, and the buyer and selller reach agreement as to what repairs will be made, the status is changed to "Pending". Finally, there is "Active Capa", which as another agent pointed out will probably not be used much longer in the Tucson MLS. This status is used mostly for Short Sales. When an offer is accepted by the Seller, and is submitted to the bank for approval, the status is changed to "Active Capa", indicating that the home is under contract, but that the seller "Can Accept Purchase Agreements" as backup offers. When the bank accepts the offer, then the inspection period begins and the status is changed to "Active Contingent".

I hope that this doesn't just confuse the issue. In general, you should only be considering homes which are in the pure "Active" status. Good luck.
2 votes Thank Flag Link Thu Apr 12, 2012
Hi Tony. Active Capa status is used for a few reasons: 1) a short sale contract with the seller but the bank needs approve; 2) if the buyer needs to satisfy a contingency, such as the sale of their home, this allows the seller to accept additional contracts; or 3) if a seller wants to continue marketing the property even though a contract has been accepted. If a seller receives another contract (not in short sale status) they give the buyer a certain number of days (usualy 3 days) to remove the contingency. If the buyer cannot remove their contingency (say they have not sold their home) then the seller can accept the other contract.

In today's market CAPA status is usually for short sales.

Hope this helps!

Best Regards,
Gayla Lemley
http://www.GaylaLemley.com
1 vote Thank Flag Link Thu Apr 12, 2012
Gayla, hit it on the head. It means that there as an accepted offer, however the seller can entertain other offers. On a Short Sale, these other offers may or may not be presented to the Bank. Each Seller and each Bank are different. The other offers stay in Backup position until the offer ahead either goes forward or drops out. It can be a good benefit to put in a backup offer on a short sale, as many offers drop out along the way. Let me know if we can help maker it clearer.
0 votes Thank Flag Link Fri Apr 13, 2012
Active CAPA, can accept purchase agreements, this means an offer is in, but not yet accepted by the seller and offers can continue to be considered until one is accepted.
0 votes Thank Flag Link Thu Apr 12, 2012
Tony,
It means that the seller has accepted an offer, but "Can Accept a Purchase Agreement". Don't bother to look at it unless you are planning on your offer being a back up offer. You are best to move on, and only focus on active listings only.
Good Luck
0 votes Thank Flag Link Thu Apr 12, 2012
CAPA stands for "Can Accept Purchase Agreements". When you see this, it usually means that there is an offer on the property, but the seller will entertain backup offers. Tucson is one of the few remaining markets that still use both Active Contingent (under contract) and Active CAPA, in the MLS, and the rumor is that we will be doing away with the CAPA option in the near future.

I see CAPA used mostly with short sales and bank owned properties.

Hope this helps!
0 votes Thank Flag Link Thu Apr 12, 2012
In addition to the previous answer, Active Capa also means that the sellers are taking backup offers in the event the original offer that was accepted falls out or withdraws offer before 3rd party acceptance.
0 votes Thank Flag Link Thu Apr 12, 2012
Active Capa, means the property has an accepted offer (seller accepted it) but it is waiting for 3rd party approval. Majority of the time, that means the property in question is a short sale.

You can Google what a short sale is, I have couple of blogs where I have written about the process.
I imagine you are looking at properties and see the status and wondering what it means? I recommend you find a local agent to help you with your search, they can explain all this to you, plus much more about the process. Also, a local agent can sort through the existing inventory and help you find properties that are actually available and meet your search criteria. Many free sites like Trulia or Zillow.com have listings right away, but can take months to have them updated correctly. I meet a lot of clients who are very interested in a property they see on these sites, only to find out it is actually not available anymore, that it is under contract.

Best of luck.

Spirit
0 votes Thank Flag Link Thu Apr 12, 2012
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