What does CKO mean?

By
Real Estate Agent with Long & Foster

Recently, I had a buyer client ask me what cnko and cko mean. 

You'll find these abbreviations in listings we send you.  In the top line of the image below you see the abbreviation Stat, which stands for status.  Each property has a status whether it's active (available) or under contract.

Cont~this means that the home has a contract on it and all of the contingencies such as home inspection and financing, have been removed.  The only thing both parties are waiting for is the closing date.

Cko~the home is under contract but there is a kick out. Usually this kickout has to do with the buyer selling their current home.  If we look at the picture above, buyer 1 has a contract on the house on Strawrick Terrace.  They have a home to sell before they can move forward with the purchase of Strawrick Terrace.  The seller is okay with this but has said that if another buyer comes along, one without a house to sell than buyer 1 needs to remove that home sale contingency or they will be kicked out and they will be replaced by buyer 2.  This home sale contingency is one of several contingencies but is usually the only one that can force the kick out.

Cnko~the home is under contract and there are contingencies such as home inspection and financing but the buyer cannot be kicked out for these contingencies.

I hope this helps when looking online at homes for sale.  Please feel free to contact me if you have questions about other real estate terms.

 

And now for my disclaimer...I sell real estate in Northern Virginia.  The properties listed in your area may use other similar terms.  If you need help understanding them, please contact me and I'll be happy to put you in touch with a REALTOR in your area.

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Rainmaker
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Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Lots of initials, combination of letters used in real estate. Thanks for the clarification. Know all these?

Aug 24, 2011 05:33 PM #1
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It is interesting to read info  and terms used by different mls systems.

Aug 24, 2011 05:33 PM #2
Rainmaker
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J. A. Michail
Real Property Management of Sarasota & Manatee - Sarasota, FL
Real Property Management of Sarasota & M

An interesting blog post that I enjoyed reading! Thank you for sharing it!

Aug 24, 2011 06:12 PM #3
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Margaret Rome, Baltimore Maryland
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Nancy, Being an MRIS,  or as we fondly call Mr. Is,  user, I know these terms well. Good idea to spell it out for others.

Margaret

Aug 24, 2011 09:54 PM #4
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Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
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Nancy these are great reminders. There are SO many abreviations in the world for every industry that we just can't keep up with them all! Thanks for the excellent post. Also, thanks for the subscription! I really appreciate it! :)

Aug 24, 2011 10:34 PM #5
Rainmaker
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Frances C. Rokicki
Fran Rokicki Realty, LLC - Bolton, CT
Broker-Mentor,CRS

Nancy, As the saying goes, it becomes, all Greek to me!  LOL!  Some of our newer mls terms even baffle me.  There seem to be more, every week.  Little keys of information to add to the listing's information.

Aug 27, 2011 07:37 AM #6
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Erik Louderback

Nancy,  Thanks for the info!  I have always wondered what the different types of status meant.  So if the status is CKO or CNKO, can we still go visit a property?.  I am sure that financing becomes a problem in certain situations, even in CONT status and as a seller, I would like to keep my door open to others if the financing falls through or is this a breach of contract or good faith?   Thanks,

Erik

Aug 28, 2011 12:19 PM #7
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Erik Louderback

Nancy,  Thanks for the info!  I have always wondered what the different types of status meant.  So if the status is CKO or CNKO, can we still go visit a property?.  I am sure that financing becomes a problem in certain situations, even in CONT status and as a seller, I would like to keep my door open to others if the financing falls through or is this a breach of contract or good faith?   Thanks,

Erik

Aug 28, 2011 12:19 PM #8
Anonymous
Anonymous
Erik Louderback

Nancy,  Thanks for the info!  I have always wondered what the different types of status meant.  So if the status is CKO or CNKO, can we still go visit a property?.  I am sure that financing becomes a problem in certain situations, even in CONT status and as a seller, I would like to keep my door open to others if the financing falls through or is this a breach of contract or good faith?   Thanks,

Erik

Aug 28, 2011 12:20 PM #9
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Nancy Pav

Nancy Pav, Your "GottaHave" Realtor
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