Is That Home for Sale or Under Contract?

St. Louis Real Estate:How to Find Out if a Property is Still for Sale or Under Contract

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

Understanding the Listing or Contract Status of a Home

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.

ACTIVE UNDER CONTRACT – This term is for properties that have an accepted contract that include contingencies or circumstances that would or could cause the contract to be removed and/or replaced. This used to be called a contingency contract with a “kick-out clause”. This is very common when a seller has an accepted a contract on their home with the contingency that the buyer needs to sell their current house before the contract is final and the home is sold.

Sellers holding a contract with a kick-out clause can continue to market the home. If the seller receives another buyers offer the seller notifies the first buyer that they have a new offer on the home. The buyer then has a specific amount of time (as stated in the kick-out 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.

PENDING – For properties with an accepted contract without a kick-out that establishes a process to remove the current offer outside of nomral contractual conditions such as inspections, financing, etc.

CLOSED – Properties that have sold. This term used to be called SOLD.

Why Do Some Web Sites Show Old Data?

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.