Investing in Rental Properties—$100,000 or more
What does CTG financing mean?
A CONTINGENT property generally has an accepted offer on it, however they cannot list it as UNDER AGREEMENT yet because it’s contingent upon a home inspection, attorney review, appraisal, financing, third-party approval (short sales/foreclosures), or purchase & sale (P&S).
What does reactivated mean in real estate?
A Transaction will have a Closed status after it has been marked as Closed by an Admin/Broker. One reason you may need to reactivate a Closed file is to update information within the file, such as the sale price or closing date; that information can’t be changed once the file is closed.
What does it mean for a property to be under agreement?
Under contract means that a seller has accepted an offer on the property, but the sale is not final until all contingencies are met. … In some instances, a buyer may make the sale of the home contingent upon the sale of their current home so they don’t have to deal with multiple mortgage payments.
What does act mean in real estate?
ACT means active. NEW means just listed. (These include properties that were listed before under a different MLS number.) PCG means price change. Properties marked BOM have come back on the market after the active marketing has been suspended by being UAG, WDN, CAN, or EXP.
What does Cancelled listing mean?
Under the Bright MLS Rules & Regulations, “Expired” or “Cancelled” status means that there is no longer an active brokerage agreement/listing contract with the seller. … An “existing business relationship” is one which extends for 18 months after the end of a transaction between the Realtor® and a seller.
What does CTG stand for?
|CTG||Core Technology Group|
|CTG||Childhood Traumatic Grief (emotional health)|
|CTG||Center Theatre Group (Los Angeles, CA, USA)|
|CTG||Community Transformation Grants (US CDC)|
What does pending expiration mean real estate?
Expired (X): The expired status is for properties for which the listing period has expired. Pending (P): The pending status is for properties that have an accepted contract and the seller has instructed their agent to cease marketing and/or showing the property.
Does no longer on the market mean sold?
When a person puts their home up for sale, they often turn to a local real estate agent. … This is what “no longer on the market” often means: the seller has gone independent and wants to make the most profit off the sale.
What is the difference between active and for sale on Zillow?
ACTIVE – for properties that are offered for sale and have no accepted contract on them. CONTINGENT W/KICKOUT – for properties that have an accepted contract that includes contingencies and includes a kickout clause. … OPTION – for properties with an accepted contract and in the initial inspection period.
Can I outbid an accepted offer?
If the purchase contract hasn’t been signed, the seller could accept another offer, even if you think they’ve accepted yours. The seller generally cannot cancel your contract if you are in compliance simply because the seller received a better offer from another buyer.
How do you beat a contingent offer?
Here are just a few that can help you beat out the competition:
- Get approved for your mortgage. …
- Waive contingencies. …
- Increase your earnest money deposit. …
- Offer above asking price. …
- Include an appraisal gap guarantee. …
- Get personal. …
- Consider a cash offer alternative.
Can a seller back out of a contingent offer?
Real estate contracts are legally binding, so sellers can’t back out just because they received a better offer. The main exception is when the contract includes a contingency that allows the seller to terminate the sale.