When a home is on the market and being advertised on websites, you may see that it’s listed as Pending or Active-O.
A pending home simply means that it is under contract and awaiting settlement. As a result, it’s not available to any other buyers.
1141 Titan Street in Philadelphia is Pending
Active-O (sometimes known as Active With a Contingency) is a little trickier, though. Most simply explained, Active-O means that the home is under contract with a buyer, but that there are contingencies in place that have not yet been met. Most often, these contingencies include home inspections and getting the home appraised.
While another prospective buyer may be allowed to tour the home, an Active-O home isn’t available for sale – and that’s where things can get sticky. The seller is already in a binding contract with a buyer, so they can’t accept any other offers. Plus, the vast majority of homes that go under contract do end up making it to the settlement table, which makes it unlikely that the home will ever be back on the market.
At EveryHome, we’re pretty weary of using this “Active-O” status, because we feel like it’s a bait and switch tactic. After all, if we were buyers, we would be heartbroken if we kept finding great homes online that we can’t even buy!
If you find a local home that may be listed for sale on another real estate website but it’s not on EveryHome.com, it’s pretty likely that this Active-O status is in the reason. At EveryHome, we update our website every single morning to ensure that you receive the most accurate information, and we only list homes that are truly available for sale.
If you have any questions about a home’s status, be sure to give us a call at (215) 699-5555 or shoot us an email at theoffice@everyhome.com