se4269, Home Buyer in Saint Petersburg, FL

when in description it say active with contract, does that mean they are already under a contract with someone else?

Asked by se4269, Saint Petersburg, FL Wed Feb 29, 2012

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The phrase AWC is just that: Active with a Contract. It can mean either that it is a short sale and is awaiting bank approval or there are other contingencies such as financing or inspections which give a buyer an out. Many sellers will accept this kind of contract but want the property to stay active until either the bank accepts the offer or all the contingencies have been met and satisfied. At this point the status then changes to pending or if there are any issues the property could go back to active at which time any back up offers will be reviewed. If I can help in any way with any real estate question or need, please contact me. Thanks
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0 votes Thank Flag Link Thu Mar 1, 2012
Yes, "Active with Contract" means there is an accepted offer (accepted by the seller), and there are contingencies to be cleared before it can be considered a "Pending" sale contract. Often this is used for short sales, since the seller can sign off on pretty much anything, while the lender must approve the price and terms.

With the large inventory of great homes on the market right now, it is really not worth the time and trouble to consider homes which are already under contract--to see for yourself, please access your free Listingbook account!
0 votes Thank Flag Link Thu Mar 1, 2012
Active with Contract does not ALWAYS mean its a short sale. It simply means its under contract but that they may accept backups while contingencies are cleared, or in the case of a short sale, they are waiting for bank approval.

Liane Jamason, REALTOR
Smith & Associates Real Estate
0 votes Thank Flag Link Thu Mar 1, 2012
Yes, that is a phrase somewhat unique to parts of Florida. It means it has a contract but the seller wants to take back-up offers as there is concern that the first contract might not be solid. Many times it is due to a short sale and although the seller has agreed to the price but the bank might not.
Marilyn Voreis
RE/MAX Metro
0 votes Thank Flag Link Wed Feb 29, 2012
This is a new status that causes more questions than answers. Yes, the property is under contract. Best advice, call listing agent to see if they are accepting back-up offers.
Jim Soda
Keller Williams Realty
Lakewood Ranch
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0 votes Thank Flag Link Wed Feb 29, 2012
Yes it means that the subject property is under contract. If it states "Active with Contract" it means that the seller is still accepting and reviewing offers.

Best regards....Todd
0 votes Thank Flag Link Wed Feb 29, 2012
This status is being applied to short sales that take long to close. Property is "under contract" but sellers request back-ups in case buyer walks. This is why they show it as "active"
0 votes Thank Flag Link Wed Feb 29, 2012
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