I ALWAYS invite and encourage home buyers to ask me about the status of a home they see listed online, in papers, or anywhere for that matter.  Here's why:  Most people are familiar with the three most popular status levels of a home sale:  For Sale, Pending, Sold.  What is not often familiar are the status levels between For Sale and Pending.

Here's a quick run-down.  Once a homeowner accepts a contract for the purchase of their home, the property usually does not go straight to Pending.  It can, but most often does not.  What DOES happen is this.  The potential buyer of the home then enters a schedule of events that moves them toward the purchase of the home.  During this process, the sale is contingent on the success of these steps.  Here are some of the most common contingency steps a sale goes through between For Sale and Pending:

• Sale of Home - the buyer first has to sell their home before they can purchase the new one.  Sometimes a seller retains the right to sell to another party or give the potential buyer first refusal.
• Financing - the buyer is arranging and providing proof of financing or proof of funds.
• Inspection - the buyer is having the home inspected (highly recommended).  After the inspection, there is a resolution period (usually a matter of days) where the buyer and seller agree on any remedies the home may need. 

There can be other contingencies as well including approvals by spouses and banks, but these are the most common.  If such contingencies cannot be successfully be satisfied, then the seller may not be obligated to purchase and the home may return to the market.

Now, the magic question that buyers often ask when they've fallen in love with a home they've seen is this: 

"Why is the home still showing online as being available?"

The reason is simple.  The home has not yet been sold... only contracted.  Deals fall apart all the time for a variety of reasons, so some buyers accept back-up offers on homes just in case the original contract fails, so they still want buyers aware of the property.  If a buyer has time to wait, this can sometimes work for them, but should not be counted on as a sure-way to purchase a home.  Unless the market is very slim in choices, most home buyers will continue to explore other options.

Another popular question:

"Can we see a home that is under contract?"

That is up to the seller and any agreements they may have made.  Some sellers are ready for the showings to be over, so once they have a contract they discontinue showings.  This is a per case basis, so it's possible for us to ask each seller's agent about this.

Once all the contingencies have been cleared, the home goes to the Pending status level.  Normally, no more showings are done and the home is near closing although contracts can fall apart all the way up to the point of having everything signed on closing day.  NOTE:  It's normally when the home goes to the Pending status that the property no longer displays on most online real estate sites.  Until then, homes will still show as available, but could have contracts on them.  Some websites that do not get their information directly from the MLS, may still display the home after it goes Pending as a result of having outdated information.  My website gets its data-feed from our local MLS and has the most current information available and I'm happy to look up the details on any contingencies which public sites will not display.

If you see a home listed and want to know that the detailed status of it, please contact me.  I ENCOURAGE it and am happy to look it up for you.  I hope this helps explain a little about how and why homes are displayed in the digital world of real estate.