MLS Status Codes Defined

What do the codes mean on MLS listings right after "STS"?  

("STS" means the status of the property)

 

 

 

 

ACTV = Listing is currently active and can be shown according to showing directions.

TEMP = Listing is temporarily off the market and usually cannot be shown.

RACT = Listing is back on the market (previously TEMP status) and can now be shown.

BOMK = Listing is back on the market, usually after a sale has been cancelled.

CTG = Seller has a contract to sell their home with some sort of contingency clause.

Generally, depending on the contracts terms and the sellers instructions, the property can still be shown to other prospective buyers and the sellers can negotiate other offers until either the contingency is satisfied or the seller decides not to show the property anymore.

Typical Contingency Clauses (Subject to):

HS24, HS48, HS72 = Broken down: HS = buyer owns a property that has to be sold (they don't have a contract yet) in order for them to buy the property from the sellers.  The seller has accepted their offer subject to the sale of their property (see * note above).

The 24, 48, or 72 after the HS or HC = the number of hours the buyer has been given after receiving notice that another bonafide offer has been accepted by the seller. The buyer has to decide to either remove their sale contingency and proceed to closing on the sellers property - regardless what happens with the property they currently own - or they have to cancel their contract with the seller and then second accepted offer takes primary position.

HC24, HC48, HC72 = Same as above except the buyer has a contract (HC) to sell their current property.  The buyer's sale can range from just getting started to almost completed.  Depending on the circumstances, the sellers will decide whether to keep showing the property and entertaining other offers or not.  The seller has accepted the buyers offer subject to the close of their property sale.

CLSD = The property is SOLD and closed (all documents have been executed, monies disbursed, and the buyer has ownership). 

 

 

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