CS – Coming Soon: At the Seller’s request a property may be entered into the Coming Soon Status.
What does CS mean on real estate listing?
CS) This home sale contingency is a little different. This means the person buying the property with the contingency must sell a home, and the home they must sell does not yet have an accepted offer on it. I’ll break this down a little more. Call the property you see marked as contingent Property #1.
What does conditional CS mean?
Definition. When a property for sale becomes conditionally sold (C/S), this implies that the sellers have accepted an offer from a buyer conditional upon the seller and/or buyer being able to fulfill certain set out conditions.
What does CS mean MLS?
A contingent status means that the seller has accepted an offer and the home is under contract. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the deal can close.
Can you put an offer on a house that is conditionally sold?
Consider what conditions you may have
An offer on a property is usually made either conditionally or unconditionally. … Conditional sales usually occur when the purchaser already has pre-approval, an inspection has been completed, and the buyer is happy with the property as it stands.
What does PR mean in real estate?
When you buy a home, there is a lot of paperwork to review before all is said and done. One of those documents is called the title commitment, also known as the preliminary title report (PR for short), title work, or title binder.
What does SC stand for in real estate?
List of Abbreviations
Can a seller accept another offer while under contract?
The one type of offer a seller is allowed to accept while under contract with a buyer is a backup offer. … A backup offer puts sellers in a good position, and they should communicate to the buyer’s agent that they have one, particularly if the offer is substantially more than the original offer accepted, says Richards.
What if the seller finds the buyer?
The agent cannot decide to cut the fee, only the agent’s broker can authorize a change in the contract, which is between you and the broker, not the agent. … When the seller finds a direct buyer, the participants drop to two (three including the seller), which may improve the chances of a fee reduction.
Can a seller get out of a conditional offer?
A seller can only back out of a contingent offer if the purchase agreement includes a contingency that authorizes the seller to terminate the contract.
What does DT mean in real estate?
Documentary Transfer Tax – One time tax paid to County Recorder’s office upon recordation of a transfer of ownership form. EASEMENT. A right or interest placed on the property to benefit someone else. EDD. Employment Development Department – California government agency which handles employee/employer taxes.
What does C continue show mean?
• C- Continue to Show, Under Contract – Property available to be shown, contract exists – See REALTOR® Remarks.
What is an active kick out property?
KO Active Kick Out: Property has an offer contingent upon the sale of another property by buyer. (Refer to TAR Form 1908) Still available for showings and backup offers. Will expire on the original expiration date the agent entered. … The seller is free to re-list their property with another broker.
Can you withdraw an offer on a house before it is accepted?
An offer to purchase a property can be rescinded or withdrawn at any time before it is accepted. For a rescission to be effective it must be given as a notice in writing and received by the other party. … Rescission of an offer is not effective until it is delivered to the other party.
Can you withdraw an offer on a house after it is accepted?
Can you back out of an accepted offer? The short answer: yes. When you sign a purchase agreement for real estate, you’re legally bound to the contract terms, and you’ll give the seller an upfront deposit called earnest money.
Can a buyer back out of a conditional offer?
In most markets, buyers will choose to make a purchase agreement conditional on a satisfactory home inspection. But buyers cannot back out of a deal simply because the inspection found some issues with the house. … That could lead to the cancellation of the purchase agreement, Taylor said.