What is the meaning of house status?
More Definitions of Housing status Housing status means the type of housing in which an individual resides, whether publicly or privately owned; an individual’s ownership status with respect to the individual’s residence; or the status of having or not having a fixed residence. Sample 1.
What does CTG mean in real estate?
Contingent (or CTG): Effectively the same as UAG or Under Agreement, Contingent means that there is an accepted, signed offer. It is a legally binding agreement, but sometimes the sellers will take “backup offers” just in case something happens and the property goes back on the active market.
What does MLS status mean?
When a home listing in the multiple listing service (MLS) or on an online listing portal like Zillow (NASDAQ: Z) (NASDAQ: ZG) shows as “pending” or “sale pending,” it means that the seller has accepted an offer on the home from a buyer.
What does BOM mean in real estate?
Back on the Market
BOM indicates a home that was in contract to be sold, but is now “Back on the Market.” “No fault of the house” may describe a situation in which the buyer lost interest in the home after a long short sale process or failed to get final loan approval, as contrasted to a situation in which the home’s inspection turned up …
What does occupancy status mean?
An occupancy status on a mortgage refers to how one intends to use the home. For example, someone is more likely to stop making payments on an investment property than they are on the home they have their family in.
What does under the house mean?
(of persons) having inadequate or poor housing. (of a community or area) not having enough dwellings.
What does it mean when a home is under agreement?
What Does Under Contract Mean? Under contract means that a seller has accepted an offer on the property, but the sale is not final until all contingencies are met. It typically takes 4 – 8 weeks from the date the offer is accepted until the sale is complete.
What does it mean when a property is under agreement?
If a property is said to be under agreement or contingent or pending or under contract or active with contract or have a signed offer – it means the same thing. Namely, that there is a signed, accepted offer between Buyer and Seller. And that means that the property is not presently available for sale.
What does House pending mean?
A pending sale status means the seller has accepted an offer from a hopeful buyer, but the deal hasn’t closed yet. (This is different from a contingent sale.) But there’s still a chance the home can be up for grabs again—say, if the home inspection doesn’t check out or the buyer can’t pull together the financing.
What does retained property status mean?
Retained Real Property means all real property owned or leased by Seller that is not included in the Purchased Assets and that is not purchased by Buyer.
What does listing removed after pending sale mean?
One is that the property is withdrawn from the MLS if the seller terminates the listing agreement. Many homeowners choose to remove their home from the market, the reason can be to make necessary improvements or repairs, and then re-list the home once completed to attract more prospective purchasers.
What does act mean in real estate?
ACT “Active” listing. Keep in mind the seller may have an offer on the home but until the last initial goes on and the offer becomes a contract, the listing agent won’t change the status to A/O or PND. A/O “Active Option” means there is a contract on the home and they are in the option period.