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What is the Status of Newport Beach Listings?

What is the Status of Newport Beach Listings?

How frustrating is it, when you find a home you like on line, and then you discover it is no longer available, or back up or in pending status. And it can be on hold too.

You have done all your due diligence, met with a lender, obtained a pre-approval letter, selected which Realtor is going to represent you, and now it is time to start looking for property.house for sale in newport beach

Times have changed significantly, and home buyers can begin their home search right at home or on their smart phone. Many Real Estate websites have what is called IDX – internet data exchange – which shows the listings right on that website. Newport Beach Real Estate has a home search option.

There are several different statuses that are available, and the purpose of this post is to explain the different status that you may encounter when searching for a home for sale.

Active: means the property is listed and is active. Typically, there are no offers on the property, however it preclude the fact that the property may have an offer on it, and negotiations are under way.

Back Up: properties are changed from active to back up once an offer has been accepted and escrow has been opened. The buyer typically has 17 days to remove their contingencies per the contract, however this can also be negotiated.

Pending: property is changed from back up to pending, once the contingencies have been removed.

Closed: the property has closed escrow and title has been recorded with the new buyer.

There are a few other status including  hold, cancelled, expired, and withdrawn.

When I am arranging a buyer tour, I always verify the status of the property before I take a buyer to view the property.

If it is active, I still inquire if it is available as an offer may have just been accepted.

If I can answer any questions about property status, please contact me.

 

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ABOUT ME

Sharon Paxson is a full-time REALTORĀ® with EQTY | Forbes Global Properties and has been specializing in residential real estate throughout the Newport Beach area since 2005 assisting Buyerā€™s, Sellerā€™s, Landlords, and Tenants with their real estate needs.

If you are thinking about buying, selling or renting your home, condo or other Real Estate in the following areas including Newport Beach, Newport Coast, Corona del Mar, Huntington Beach there are thousands of Realtors to choose from. However, it doesn't cost you any more to work with aĀ top Newport Beach CA Realtor. We welcome the opportunity to show you how we get outstanding real estate results with specific and targeted marketing. If you are looking for a top real estate agent who will make a difference you have come to the right place. Use this real estate website to learn about communities and homes for sale.

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    Newport Beach, CA 92660
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