Now there is a quick way to find out if a home is still for sale or under contract.
I wish I had a dollar for every time I have heard the following:
“We just saw that home we’re interested in on another web site. Could you tell us a little more about the property?
(We then check the MLS and tell them its under contract)
What do you mean it’s under contract? How can that be?”
The Accuracy and Timeliness of St. Louis Real Estate Data
It’s impossible to comment on the many web sites that are available on a national level and how timely their information is. We can share with you that the data that we share on our website is pulled from the local MLS every 24 hours. It’s called a MLS feed, and it is fresh daily.
BTW, if you can’t wait to find out if a property is still active, just click the red button. You will need the MLS# of the property ready to enter
Here are the terms and definitions you will frequently encounter in your home search. You will see these terms directly under the main photo of the details page on every home on our site. (Please see the video at the bottom of the page)
ACTIVE – These are properties that are offered for sale and have no accepted contract on them.
CONTINGENT W/KICKOUT – That doesn’t sound too friendly does it? This term is for properties that have an accepted contract that include contingencies including a “kick-out clause”.
This is often used when a home buyer places a house under contract with the understanding the he must sell his current house before finalizing the new purchase.
Sellers holding a contract wth a kick-out clause continue to market the home. If they receive another offer the buyer then has a specific amount of time as stated in the clause to remove the contingency and buy the home whether his existing home is sold or not. If the buyer cannot move forward, the seller can back out of the contract and sell to the new buyers.
CONTINGENT NO KICK-OUT – This is for properties that have an accepted contract that includes contingencies but with no kickout clause.
CONTINGENT SHORT SALE – For properties that have an accepted contract accepted by the owner subject to lender approval.
PENDING – For properties with an accepted contract. Properties will remain in this status until they close or until 9 months past the expiration date.
OPTION – For properties with an accepted contract and in the initial inspection period. Properties is this status will move to the Pending status when the inspection contingency expires.
Can’t say for sure. Maybe it’s their way of finding new buyers. See if this scenario makes sense:
Salesperson: Ring, Ring, “Hello this is Lower Standard Real Estate Company how may I help you?”
Buyer: “I saw a home on your site I’m interested in on 123 Main Street.”
Salesperson: “I’m sorry but that home has been under contract for awhile. I do have several other properties similar to this one … would you like me to send you some information? What was your name?”
And the game begins …
Avoid Getting Caught Up with Old Information or Real Estate Tricks of the Trade
Just go to our “Is it still for sale” section of our web site or call us at 636-532-4200 and we’ll give you the latest status. We only work for Buyers and play no games.
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