Home Selling in Salinas>Question Details

Kh, Other/Just Looking in Prunedale, CA

A home on the market 3 days has "pending release", "pending show". It is a short sale requiring cash only buyer. What do these 2?

Asked by Kh, Prunedale, CA Sat Jul 2, 2011

quoted terms mean?

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Curt Abramson’s answer
Honestly, it probably just means the seller has accepted an offer and now it's going to the bank for review and possible approval of the short sale. There doesn't seem to be any consistent use of the pending statuses PR or PS for short sales.

FYI, per MLS rules "pending release" means the accepted offer is contingent on the sale of the buyer's current property. "Pending show" means the buyer's investigation, appraisal and loan contingencies have not been removed. An offer with "PR" status could be bumped by another buyer if the existing buyer cannot remove the contingency for the sale of their property within 3 days. An offer with "PS" can't be bumped by another buyer.

Hope this helps.
0 votes Thank Flag Link Sat Jul 2, 2011
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