What does B mean on MLS listing?
B BACK-UP OFFERS ARE BEING TAKEN. The seller/lessor is soliciting back-up offer(s) through the MLS. The seller/lessor has accepted a contingent offer. A second offer would be a back-up offer and would become the accepted offer only if and when the first agreement is cancelled.
What is a Schedule B in real estate?
A schedule (usually Schedule “B”) attached to the APS will also say whether the trust account where the money is held will generate interest. Some agreements may include a clause stating that if the interest accumulated on the deposit is less than a certain dollar figure, the brokerage will not pay out the interest.
What does status mean on MLS?
Most of the properties listed in the multiple listing service (MLS), the database where real estate agents list homes for sale, will have an active status. That’s because an active status means that the home is currently available for sale.
What does status change mean in real estate?
Withdrawn Listing Status – Updated Definitions. When a listing has been classified within the Withdrawn status, it reflects a change that the seller and listing broker are either making changes to the listing agreement or the seller no longer wishes to have the listing broker market the property.
What does C’s mean in bright MLS?
MLS Status Definitions CS – Coming Soon: At the Seller’s request a property may be entered into the Coming Soon Status to prep.
Is pending the same as under contract?
‘Under Contract’ is probably the most accurate way to describe a pending or ‘contingent’ sale. It means the same as the other statuses above; a buyer and seller have agreed to terms and have executed a contract. But, the contract has yet to go to closing.
What is Schedule B in a title commitment?
Schedule B-1: This section lists the necessary requirements that must be met before a title policy can be issued, including any or all of the following items: releases of deeds of trust, releases of tax liens, entity or estate documentation, releases of judgments, correction deeds, warranty deeds, and deeds of trust.
What is active kickout status?
KO Active Kick Out: Property has an offer contingent upon the sale of another property by buyer. (Refer to TAR Form 1908) Still available for showings and backup offers. Will expire on the original expiration date the agent entered. The seller is free to re-list their property with another broker.
What does active continue to show mean?
Active Continue to Show: If a listing says “Active Continue to Show”, it means the Seller has accepted an offer on their property. It also says that the Seller will continue to show it for backup offers. Most agents keep a listing in this status until the Buyer has removed most of their contingencies (ie.
What does BOM pending release mean?
back on the market
BOM stands for “back on the market” in real estate, and is a common abbreviation used by real estate agents. As the name suggests, a listing that is back on the market simply means that it is available again after a prior offer or contract fell through.
Is under contract the same as pending?
What Does Under Contract Mean in Real Estate? ‘Under Contract’ is probably the most accurate way to describe a pending or ‘contingent’ sale. It means the same as the other statuses above; a buyer and seller have agreed to terms and have executed a contract. But, the contract has yet to go to closing.
