Understanding Online Property Statuses

When searching for your dream home on websites like Trulia, Zillow, Realtor.com, or Redfin, you'll encounter various property status labels. Each site might use different terminology, but they generally mean the same thing. Let's break them down:

Available, For Sale, and Active

Common across many sites, these labels mean that the property is on the market and available for viewing and purchase. You can schedule a showing and explore these listings freely.

Pending, Contingent, Under Contract, and In-Escrow

These terms might be a bit more complex. Essentially, they indicate that the property is currently in the middle of a transaction. It's in escrow with an accepted offer. While it might still be shown and accept backup offers, especially in a busy market, it's generally not available for new offers.

'Back on the Market': Understanding Why

This status can sometimes be misunderstood. A property going 'Back on the Market' doesn’t always signal a problem with the property itself. There are various reasons why a property may return to the market:

  1. Property-Related Issues: These could include findings from an inspection, permitting issues, or violations discovered during the escrow process.

  2. Buyer's Financing Troubles: The most common reason a property falls out of escrow is due to the buyer not qualifying for their loan.

  3. Overzealous Bidding: In a heated market, buyers may bid higher than they can afford or bid on properties they haven't seen in person, leading to second thoughts and deal cancellations.

Sellers' Disclosure for 'Back on the Market' Properties

It's crucial to note that if a property returns to the market due to issues discovered during escrow, sellers are legally required to disclose these new findings. This transparency is vital for potential buyers.

Why Filter Your Online Property Search

To streamline your online property search, use filters to focus on available listings. With many properties under contract or in escrow, filtering out these listings helps you concentrate on homes you can actually purchase, reducing confusion and saving time.

Have More Questions?

Navigating the real estate market can be complex, but I'm here to help. If you have any questions or need assistance in your home search, feel free to reach out. You can contact me at (808) 829-6819 or kristy@hawaiihomesbykristy.com. Also, visit our website at hawaiihomesbykristy.com or search directly at search.hawaiihomesbykristy.com for your next dream home in Oahu.

Kristy Nakamura
Realtor, Hawaii Homes by Kristy
Brokerage: eXp Realty
Phone: (808) 829-6819
Email: kristy@hawaiihomesbykristy.com
Website: hawaiihomesbykristy.com
Home Search Site: search.hawaiihomesbykristy.com