So if you adore what you see in the listing, it certainly can't hurt to inquire.Margaret Heidenry is a writer living in Brooklyn, NY. There are several types of active statuses, and their usage and definitions can vary by market. MLS - Multiple Listing Service; database of real estate for saleSmart -a computer controls some electronic devices like heating, alarms, and lightsThis list of real estate investing abbreviations is useful for real estate brokers. Her work has appeared in the New York Times Magazine, Vanity Fair, and Boston Magazine. Real Estate Abbreviations It happens to the best of us: we're looking at a listing for a terrific-sounding apartment, but then all of sudden we're confused... does "DR" mean that the apartment has a … Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general. Examples of contingencies are These contingencies fall away as tasks are completed, says This means the seller has an accepted offer and an executed contract, and all the contingencies have been met, so the home is pending sale. Browse and search thousands of Real Estate Abbreviations and acronyms in our comprehensive reference resource. This might be for a variety of reasons: The sellers may have decided they want to stay put, or they may just not have received any offers they liked. 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.This means that even though there’s an accepted offer on the home, the seller is looking for The seller has an agreed-upon contract with the potential buyer. Even though a sale is highly likely, some pending properties may still accept backups. An "Active" status means that a home is currently available for sale. This is the escrow period, when both buyer and seller are working toward a closing. These abbreviations are typically written in all capital letters. That doesn't mean that it's a done deal by any means, however (more on that next).But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the deal can close. 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. This means that the home fell out of The property listing with the agent has expired and is no longer active, usually because it didn’t sell, says Matthews. There are many abbreviations used in real estate, but the following list includes the more common ones you’ve probably heard before. Property condition disclosure statement - During the past several years, various jurisdictions throughout North America have introduced property disclosure forms. How you take title to a home is as significant as how you finance the property. ACRP - Association of Commercial Real Estate ProfessionalsFHLMC – Freddie Mac (Federal Home Loan Mortgage Corporation)GNMA – Ginnie Mae (Government National Mortgage Association)REALTOR® – Member of the National Association of Realtors If your offer is accepted as a backup, you’re in line to go under contract if the first sale falls through.This means the property's owners are actively taking backup offers in case the first one falls through.The seller has an accepted offer but is waiting to see if the buyer's bank will agree to it, says Realtor A property that has come back on the market after a pending sale.
Talk to a real estate agent if you're interested in an active listing, or learn more about what an active status means. It looks like Cookies are disabled in your browser. This site is protected by reCAPTCHA and the That could mean the seller is still open to accepting an offer, so it's worth touching base if your curiosity is piqued.The owner has removed the property from the listings for an undetermined period, usually because work is being done on the house or because the home cannot be shown. Sorry, we were unable to share this article In the abbreviations, you may see differences in which letters get capitalized and which don’t depending on the realtor/publication. It should return to active soon enough, so it's certainly worth piping up if you're smitten.A property was withdrawn from the realty market.