Frequent question: What does active option mean on Realtor?

Active. This means that a property is currently on the market and available for sale. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open for you to make a proposal.

What is active option in real estate?

An active option contract means the seller has accepted an offer to sell their property. However, the transaction is in an option period, or inspection period. This is when a home inspection will occur. The buyer may back out of the purchase of the home.

What is an active option listing?

If a home is listed as being in “active option contract,” that typically means the seller of a home has accepted an offer but the deal isn’t finalized yet. The sale is currently in what’s referred to as an inspection—or option—phase.

What is the difference between active and active option?

Will expire on the original expiration date the agent entered. OPT Active Option Contract: Seller has accepted an offer but the Buyer is exercising the option period from the sales contract. … KO Active Kick Out: Property has an offer contingent upon the sale of another property by buyer.

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Can you make an offer on an active contingent?

In most cases, putting an offer in on a contingent home is an option to consider. Although it doesn’t guarantee you’ll close on the home, it does mean you could be first in line should the current contract fall through. Putting an offer in on a contingent home is similar to the homebuying process of any active listing.

What does active with contingencies?

Active with contingency means that an offer on the house has been made, and the seller has accepted it; however, before the sale can be finalized, some criteria needs to be met. … While contingencies benefit both the buyer and the seller, they benefit the buyer the most.

Can buyer back out after option period?

Yes. The option period is designed to allow buyers to back out if necessary. There are no penalties for backing out during the option period, apart from the loss of your option fee. If you do decide to back out of the sale for any reason at all, you can pull out and receive your earnest money deposit back in full.

What is an active kick out listing?

According to the MetroTex Association of Realtors, the description of Active Kick Out, or KO, status is: “Property has an offer contingent upon the sale of another property by buyer. Still available for showings and backup offers. Will expire on the original expiration date the agent entered.”

What does it mean on Zillow when it says active?

ACTIVE – for properties that are offered for sale and have no accepted contract on them. … This usually happens if the seller is interested in accepting another contract from a buyer who does not have a house to sell.

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What does active contract mean?

A: Active with Contract means the buyers has a contract to purchase on the property. The contract has a contigency so the seller can still look and accept other offers.

What does UU mean in real estate?

• U- Under Contract, Do not show – Property is not to be shown, contract exists – See Remarks. • May remain as Under Contract indefinitely (if the deals falls through, the listing agent needs to change the listing status to Active or Expired).

What does pending to active status mean in real estate?

All about active/pending

“Active” means a property is for sale, and the seller is seeking offers. “Pending” means the property is still technically for sale, but someone has made an offer. The transaction is considered pending until the buyer actually closes escrow.

Can you buy a house that is already under contract?

You can still make an offer on a property that is under contract, and if it is accepted and the first deal falls through for some reason, you will be in position to purchase.

Can a seller accept another offer while contingent?

Contingent – With No Kick-Out

This means the seller cannot accept another buyer’s offer unless certain requirements are not satisfied with the current accepted offer. This is good for the current buyer, because they can’t be “kicked out” unless they don’t meet their contingencies.

How do you beat a contingent offer?

Here are just a few that can help you beat out the competition:

  1. Get approved for your mortgage. …
  2. Waive contingencies. …
  3. Increase your earnest money deposit. …
  4. Offer above asking price. …
  5. Include an appraisal gap guarantee. …
  6. Get personal. …
  7. Consider a cash offer alternative.
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Do pending offers fall through?

A sale that is “under contract” means an agreement has been made between the seller and buyer, but the sale is still subject to contingencies. In a “pending sale,” contingencies have lapsed, and the deal is near closing. A pending sale can still fall through if there’s an issue with financing or the home inspection.