What if you have a signed contract but the house still does not say pending on the MLS?

Question

the seller and I have agreed (at least that is what my agent tells me) on a price for a house over a week ago but the house does not show as pending. What should i do?

Answer 1

Best Answer - Chosen by Voters

If it is a short sale it will not be pending until the bank also agrees.

Answer 2

no, i am

Answer 3

yes, i agree

Answer 4

If it is not pending the seller may not have signed off on your offer. You need to get a copy of the contract signed by the seller and you for it to be a binding contract. I would ask your agent what she/he is waiting on , why it is not pending and why don't you have a signed copy. It sounds like your agent may be the listing agent as well and waiting on a better offer. If I were you and could not get these answers I would first ask for a "proof of presentation" and if you can't get that go straight to the seller and ask if they have agreed. You can find them in the tax roll.
You did not mention anything about this being a short sale or a foreclosure and if your agent has not given you a copy signed by seller you may not have a deal yet. This would be the only hold up I could see because the seller would be a corporate entity and would take three to five business days to get a signature on a foreclosure but even still it should be in pending if the seller verbally agreed. If it is a short sale it could take a month or two if the lien holder has not agreed to a price. The homeowner could agree but the lien holder has too as well and they will send out an appraiser and get a couple of BPO's (Broker Price Opinion) and that is why it could take so long.

Source(s):

Realtor

Answer 5

"Pending status" in most areas is the choice of the listing agent for the property. Where I live, 'pending status' is not used very often. Why? Because SO many sales these days fail to close, and the entire time a property shows up in MLS as 'pending', no one will be interested in pursuing an offer. Thus, we keep pursuing additiional buyers unless the seller specifically indicates that we should not do so. Any additional buyer who writes an offer on a property with a primary accepted offer is given 'secondary status'.

Answer 6

yes, i am

Answer 7

I Agreee!!!

Answer 8

yes, i am