Home Buying in Pennsylvania>Question Details

____________…, Home Buyer in Texas

Will agents show listings that have contingent contracts accepted on them?

Asked by __________________, Texas Fri Jan 16, 2009

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3
It's a beautiful day at the beach!

Like many answers below, it does depend on your local MLS, but the rule of thumb is that you can still present an offer on the property that's called a "BACK UP OFFER', which, I use in conjunction with an inspection to ensure that the property is in the same shape as it was when it was first listed.

Sound tricky? Well, it gets even stickier with SHORT SALES because some lending institutions take months to accept or reject an offer. So, you may miss out on a DEAL while waiting for an answer from a bank.

My advice is to place the backup offer contingent on inspection, and make sure that you have a right to withdraw your offer UNTIL it has been accepted by the seller(s) - that way if you find a better deal, you get your escrow back and buy the better deal.

Hope this helps...

O. Kheir
0 votes Thank Flag Link Wed Feb 4, 2009
As Terrence said, it really depends on the agent. The MLS in this area (Trend) changed their designations for properties that have accepted contracts with contingencies to show several different types. In the past, agents would typically not want to show listings that had accepted agreements as they would all show the same designation.

While most properties that went under agreement with the standard inspection/mortgage contingencies would make it to settlement, now we can see if there's a home sale or other contingency. Those contingencies indicate that the seller is still marketing the property and still accepting offers. So, to answer your question, they should be, especially in today's market.
0 votes Thank Flag Link Fri Jan 16, 2009
Depends. As a buyer's agent, I would try to show the property if my client is interested. As a seller's agent, I would ensure that they (the seller) are aware that things can fall apart and backup offers are a good thing.
0 votes Thank Flag Link Fri Jan 16, 2009
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