Tagged : Real Estate Terms
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Wednesday, May 2nd, 2012 at 3:05pm. 1265 Views, 1 Comments.
The seller is soliciting offers through the MLS. No offers have been accepted. This applies to traditional sales, as well as bank owned properties.
Active Short Sale:
A listing that if sold at list price, would not generate enough revenue to pay off all existing mortgages and expenses from the sale.
Requires an agreement from the lender carrying the note to accept less than what was originally owed.
Active Short Sale Contingent:
The seller has accepted an offer from a qualified buyer; this offer has been sent to the bank for approval. The seller has the option of choosing back up offers.
Seller has an accepted an offer from a buyer with a fully executed contract agreed upon by both…