If you’re shopping for homes, you’ve probably come across a few that say “sale pending.” Many people think this means the home is now off the market, but that’s not necessarily the case. If you’re interested in the property, you may still be able to schedule a showing and make an offer.
Read Also: What Documents To Keep After Closing
Here’s why realtors belong to a system called the multiple listing service, or MLS.
MLS members use the system to provide each other with information about their listings and to accurately report the status of their listings. When a seller enters into a contract with a buyer, the broker must report this to the MLS as a sale pending, but many offers to purchase include contingencies for things like financing a home inspection or the buyer’s need to sell their own home.
First, if any of the contingencies can’t be met, the deal could fall apart in a sale. The seller can accept other offers on a backup basis, subject to the seller’s being released from the previous offer. If you really love a property that has a sale pending, contact the agent listing the property to check on the status of the pending sale.
Watch the video below:
One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.