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Coto de Caza : Real Estate Advice

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Activity 2
Fri Jul 17, 2009
M. Kay DeRight answered:
Hi Jackie,

Generally, when an offer is accepted and/or when escrow has opened, the listing should be placed in "Backup Status" by the listing agent. Once all of the transaction contingencies have been removed, the listing agent changes the status to "Pending." While the property is in "Backup Status," it is common for the listing agent to continue holding Open Houses and other agents are allowed to continue showing the property. This is done so that if the property were to "fall out" of escrow; the owner of the property will hopefully have other interested parties who might step forward and open escrow with the intent to purchase the property.

I would suggest you ask your agent to check with the other agent (assuming it is not the same agent serving in a dual capacity, and suggest they change the MLS to reflect the correct status. It should be a quick fix. Good luck and best wishes for a successful escrow! Kay DeRight, Realtor®, Lic. # 01354750
Evergreen Realty & Assoc., Inc.
9901 Irvine Center Drive
Irvine, CA 92618
Cell: 949.929.3848
Office: 949.559.4123
Fax: 949.387.3997
Email: kayderight@cox.net
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0 votes 6 answers Share Flag
Thu Feb 11, 2010
T.E. & Naima Sumner answered:
It is never a done deal until it closes and fund. The agent may be looking for back up offers. Also doing open houses is a lead generating source for Realtors.
0 votes 14 answers Share Flag
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