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Online house hunting has become a popular shopping method ever since the internet has declared a takeover. It has really changed the way buyers shop for a home, and why not if you have instant access to thousands of homes as soon as they hit the market,  it saves you time, saves you fuel, saves you energy, gives you the ability to compare prices, and gives you the opportunity to shop the market 24/7. One thing our team has noticed is that on the websites you are shopping,  none of them really give you a clear break down on what those different statuses  actually mean to you the buyer, seller, investor, and looker. Here is a breakdown:

A- Active- Available to you

CN- Under contract- that includes contingencies but does not include a kickout clause like the CW status.

CW- Under Contract with a Kickout-meaning they are under contract with other buyers that still have to sell their house in order to buy.   You can come in and kick the current buyers out if you do not have to sell to buy. Typically there is 48-72 hours for the first buyer to firm up or else your contract will move into first place.

P-Under Contract-  Properties will remain in this status until they close

O-Under Contract,-waiting for the buyers to get through their inspections. After inspections it will switch to CN.

T-TEMPORARILY OFF MARKET – for properties that have been temporarily removed from Active status and are still listed with intention of returning to Active status in a short period of time.

W-WITHDRAWN – for properties withdrawn from the market prior to expiration, but still under contract with the listing broker. Listings will remain in this status until they expire and move to the Expired status.

E-EXPIRED – for properties for which the listing period has expired and is no longer on the market.

S-SOLD – for all properties entered in the MLS that have been sold and closed.

C-CANCELLED – for properties that have been withdrawn from the MLS and the listing agreement with the seller  has been terminated.

CSS- Is a short sale that is under contract and is waiting for the sellers banks/ lenders approval, often you will see these on the market for months.

Are you familiar with Short Sales? A short sale is when a seller is forced to sell their house for less than what they owe on it still. They are often priced as a good deal. After they get a contract, the contract is then submitted to the bank for approval. It can take anywhere from weeks to over years to close, there is really no telling.

We are The Alexander Team, a family team of Realtors serving St. Louis for nearly 13 years and always happy to help. 314-329-9042 or Homes@AskPhyllis.com. Check out our free STL Home Search tool at http://www.AskHolliD.com today.

IMG_6032001 Final

Respectively: Phyllis Alexander, Jeff Alexander, Hayley Slay, and Holli Dennis

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