Day/Question 13 of 30 days - 30 questions - 30 seconds - Why Do I see a house online, call about it because I like it, and I'm told it's SOLD? I know this can be very frustrating for those looking online, many times it just has to do with the site you are looking on and how they pull their data and information from the MLS. When a home has an accepted offer but has a contingency tied to it, many times it still shows up on some websites. 8 MLS Statuses: TNAFS (Temporarily Not Available For Showings) - This is when a listing is withheld from the MLS, even though the seller has a listing contract in place. If they will not be allowing showings for 24 hours or more, the listing is most often put into this status - for home preparation, remodeling, maybe an issue or repair that came up during the listing, the seller has family visiting for the holidays, etc. A property can be shown in this status but can only be marketed to the listing brokerage the listing contract is with. If it is marketed to the public or other brokerages, it has to be put into Active status within 24 hours. Coming Soon - This is announcing that a home is coming to the market - these homes can be marketed and promoted to everyone for up to 21 days, but when in coming soon status cannot be shown by anyone (even the seller) or they could be subject to a $1K fine. Active - The listing is on the market, promoted, available to be shown to all potential buyers and is awaiting an offer(s) for the seller to consider. *When an offer is received and accepted by a seller but has a contingency tied to it, often it remains in active status but the contingency is listed with it. The homeowner can decide during this contingency time if they will still allow showings (for potential backup offers) Types of Contingencies can include inspections, sale of another property, 10 day right of recession to review association documents, third party approval (short sales) or even other - an example is if the buyer needs verification documents for zoning from city or county to be able to do what they hoped to with the property Pending - An offer has been accepted, short term contingencies removed (if the buyer is financing the property, the sale is subject to the financing for the majority of the transaction time), all signatures are complete and earnest money has been deposited.. they're on their way to closing! Sold - The property has closed and ownership transferred. Terms of the sale are recorded in the MLS. Cancelled - A listing contract is cancelled prior to it's end date and property is removed from the market. Expired - The Property's listing contract has expired without an accepted offer and the property is removed from the market. Comp Soon - Used when a buyer purchases a property not listed on the MLS with a real estate agent who is a member of the MLS. With the buyer's permission, the real estate agent can record the terms of the sale in the MLS. What Do you Want to Know Most about Selling a Home? Buying a Home? Investing in Real Estate? Preparing to Move or Purchase in the Future? We are here as a local real estate resource to provide you with the information most helpful to you. Ask Away! Who You Work With, Matters. Cindy Welu - Welcome Home Team - Keller Williams Realty Elite 952-943-1324 | team@weluhometeam.com WeluHomeTeam.com - The Team Your Neighbors Trust