Location: Michigan
Submitted 05/06/12 08:32 AM

Q. We have a contract on the sale of our home: offer accepted; home inspection accepted; just waiting for bank appraisal. We have also purchased a home: offer accepted, home inspection done and approved; but waiting for bank appraisal. Our home for sale is still on the MLS/internet as For Sale; the home we're hoping to purchase has been removed from the MLS/internet. Is there a rule as to when a property is to be taken off active listing?

 

Answer #1
Submitted 05/23/12 12:54 PM
Patrick Sharples (Realty ONE Group): Real Estate Agent in Anaheim, CA Patrick Sharples (Realty ONE Group)
Real Estate Agent
Anaheim, CA

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A.

this may depend upon your State and MLS rules. In CA, when a property is under contract, the MLS needs to be changed to either "B"ackup offers or "P"ending. Showing the property is currently still "A"ctive is misleading to other agents and to potential buyers in the marketplace.

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