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February 26, 2008

Comments

Rhonda Porter

I have always "pounced" on a home when I wanted it...sometimes it would be to the dismay of friends and family (armchair experts) but I always faired well...

Deborah Burns

Hi Rhonda,

I think that "pouncing" is a STRONG gut reaction...and sometimes you gotta go with your gut! LOL!

Uncle Jack (Jack LeVine)

Now that something besides the crappy REO's are selling, it's happened to me several times recently here in "Vintage Vegas". All 3 of them were buyers I'M working with who wouldn't get off the fence. Ow well, live and learn.

Deborah Burns

Hi Jack,

It's funny when that happens. When you are not sure of something, and then someone else decides to get it, suddenly it is all that more desirable...and now you WANT it!

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I am not familiar with the so called "pending listing".Because i am new in real estate industry.Can you explain to me about this?Thanks


-Ella

Deborah Burns

Hi Ella,

"Pending" in Washington state is the status of a home listed on our local MLS (multiple listing service) when an offer (the purchases and sales contract) has been accepted by both the seller and buyer.

The homes' status is no longer "active" for sale on the market once the offer is accepted.

The status then changes to "pending inspection" while the buyer has the home inspected. Once the buyer is satisfied with the inspection, the homes' status changes to "pending" while the escrow transaction process moves forward.

Once the transaction is closed, and the buyer now becomes the home owner, the status then changes to "sold".

Until the home is actually sold, there is always the possibility that something could prevent the transaction from closing and the house going back on the market. That is why I got calls from the other agents, their clients who had been thinking about the house, now found themselves wanting the house. Those buyers wanted to know if there was any possibility that the transaction would fail and the house come back on the market. Which would mean they could then have the opportunity to make an offer.

Hope this helps, and if you have any other questions please feel free to contact me, I am happy to answer them.

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am not familiar with the so called "pending listing

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