The home facts say' "offer accepted waiting on signatures". Does that mean it's under contract and sold?

Asked by Debbie, LaFollette, TN Thu Feb 23, 2012

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This question is about this property: http://www.trulia.com/property/3073094531-520-Smokeridge-Ln-…

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6
Tracy Santro…, Agent, Cary, NC
Sat Mar 31, 2012
It means it is most likely under verbal agreement. Until the agreement is signed by all parties it is not officially under cotnract.
0 votes
Nila Maceda…, Agent, Raleigh, NC
Sat Mar 10, 2012
This statement “offer accepted waiting on signatures” means that the Asset Manager of the bank in a foreclosed property or the bank’s authorized signatories in a short sale or the sellers of the house in a regular sale has accepted the offer only verbally. The signing of the documents of the Offer to Purchase and Contract has not been done yet. This signing of the documents could take some time if the bank or the sellers are from out of state. However, it connotes that it may occur anytime soon. But, it is not “under contract” until it is. The Offer To Purchase only becomes a ratified contract when both parties (buyers and sellers) have affixed their signatures on the documents. Oftentimes, this statement serves as a disclosure to alert other buyers that the listed property that shows active in the MLS
may no longer be available for sale. On the other hand, it also signals to the buyers that unless there is a ratified contract, they cannot close the house. Therefore it is not really "sold". So don't be disappointed. You may still have a chance, although slim as it seems . Usually, your buyer's agent will show you a comparable property. Take heart and good luck!!
0 votes
Conder Realty…, , Raleigh, NC
Thu Feb 23, 2012
There is no official status for the in-between period between verbally agreeing to terms and receiving the executed contract. Agents will put "offer accepted waiting on signatures" to help keep buyers and agents informed to prevent from wasted time. If you ever see this phrase, most likely the property is no longer available to purchase and you should have your agent call the listing agent if needed. For future reference, when properties are listed as "contingent", they are under contract, but the listing agent/seller is still allowing showing. Properties listed as "pending" are under contract, but the listing agent/seller are not allowing showings. I specialize in the 27609, 612, 613, and 615 zip codes and monitor the market closely. If you let me know what you are looking for, I can make sure you I let you know when a really good property hits the market. I am also familiar with several for sale by owner that may work for you too.

Jimmy Conder
jimmy@conderrealty.com
Web Reference:  http://www.ConderRealty.com
0 votes
George Wilson…, Agent, Cary, NC
Thu Feb 23, 2012
Hi Debbie,

Sorry about not changing the comments after everything was signed as Bo stated.

David contacted me to make sure of the status and answered your question correctly.

Thank you,
George
0 votes
David Willia…, Agent, Cary, NC
Thu Feb 23, 2012
Hello Debbie-

According the the Realtor MLS (multiple listing database of homes) this home shows 'Contingent' status - which typically means an offer has been accepted but the buyer still has the potential to walk away from the deal - maybe due to the buyer having another home to sale or most commonly because its within the initial 'due diligence' period where the buyer is investigating the home, having inspections done etc - during this time the buyer can walk away from the purchase contract for any reason based on the standard offer to purchase agreement. The MLS shows the due diligence period on this property has ended.

I have personally contacted the listing agent on this property (happens to be a friend of mine) - the offer was signed - the home is scheduled for a successful closing with that buyer.

There are 2 other homes for sale in that subdivision:

http://tra.fusionmls.com/DotNet/Pub/EmailView.aspx?r=1272237…

I know it can be frustrating - all the different terminology...is the home for sale is it not etc - if you would like to have an advocate on your side then I recommend having a buyers agent (a Realtor that would be with you every step of the way, representing your interest) - in this area the buyer agent typically shares the real estate agent commission dollars with the company selling the home translating into no direct money coming out of your pocket - Call or email me if you would like more info on having a 'buyers agent'

David@CaryRealEstate.com or 919-386-9101
0 votes
Bo Bromhal, Agent, Raleigh, NC
Thu Feb 23, 2012
Debbie, this home IS under contract. It would be preferable if an agent who edited the remarks to reflect the offer status would go back and edit them again to reflect that the signatures have all been obtained and the home is under cotnract. Our MLS shows the status changed effective January 17, 2012. You can still see it online because it is still within the due diligence period.

So, if you can go with an open mind and not get your heart set on a possibly unattainable home, contact your Realtor and I'm sure they'd be happy to show it to you.
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