active short contingent vs pending

Asked by Barb, California Tue Feb 3, 2009

house we are buying just went in the MLS from Active Short. Contingent to Pending...we are almost approved for our loan and the property was already bank approved at the price for the short sale..we were told to possibly close escrow on Feb. 19, which is 2 weeks from now

Help the community by answering this question:

+ web reference
Web reference:

Answers

8
Teri Andrews…, Agent, Auburn, CA
Tue Mar 17, 2009
Barb,
Hopefully you are now the proud owner of a home, but just to clarify in the Placer County MLS (Metrolist) the rules for short sales require when an offer has been sent to the Lender for approval the status be listed as "Active Short Contingent" once Lender approval of the short sale offer is completed, the listing is supposed to be changed to "Pending" and when closed "Sold" (the best one!).
0 votes
Krissy, Home Buyer, Cape Coral, FL
Wed Mar 4, 2009
Congratulations! My Wife & I are trying to close on a "short sale" in Cape Coral Fl.(sw fl) It's frustrating. We have the approval for the loan and are set up fantastic with our credit, savings & work history. I don't know why the note holder (RCB) is dragging there feet when 8 out of 10 homes in FL (S.W. Cape Coral) are in foreclosure or "Short Sale"? It's a depressing mess down hear. I hope that we won't get any named storms as the consequences will be devastating! Even the coming change of season with rain will ruin the looks of these homes and invite pests and termites/ bugs.

In my case The sellers agent has the home listed as "Active" even though we are qualified and they already accepted our offer? I guess maybe the bank has to accept that loss and our offer before saying it is "Pending"? This is my first house so I am new to the lingo and how "Short Sales" work.


Well Kid-O, I envy you! Enjoy the sweet peace that comes with the very act of closing the door to your very own home sweet home!
Everything looks better tastes better feels better in your own home!
Blessings & Enjoy!!!
0 votes
Barb, Home Buyer, California
Tue Feb 3, 2009
Thanks Steve, we will...we have been living in our little 800 sq foot mobile vacation home in WA state since Aug. with 3 dogs..anxious to be 'home' again..
0 votes
Steven Ornel…, Agent, Fremont, CA
Tue Feb 3, 2009
Enjoy your new home! -Steve
0 votes
Barb, Home Buyer, California
Tue Feb 3, 2009
Thanks Steve, the property is vacant...sellers have moved on...will check with the agent in the morning..we are just anxious to get escrow closed...thanks again..
0 votes
Steven Ornel…, Agent, Fremont, CA
Tue Feb 3, 2009
Hi Barb, it would appear that some progress has been made; however, it would be best to have your agent contact the listing agent for a status update.

Sometimes in short sales a listing agent may set a listing to pending in cases where the Sellers have expressed that they no longer want potential buyers intruding in their daily lives after an initial and backup offers have been tabled.

Best, -Steve
0 votes
Barb, Home Buyer, California
Tue Feb 3, 2009
just curious about the contingent to the pending..does that mean we are closer to closing now?
0 votes
Steven Ornel…, Agent, Fremont, CA
Tue Feb 3, 2009
Barb, do you have a question? -Steve
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more