Lottie, What Does "pending-show" status mean?

questioningWe all have questions, and I love it when clients and others ask me theirs. I realize that for everyone who asks, there are likely many others who wonder but were afraid to ask.

Last night a client shot me an email: "Lottie, what does pending-show status mean?"

My reply:

There are 3 classifications of pending sales that we use here:

1.       “PR” – pending, with a release clause. Used for short-sales, or for when the seller has accepted an offer contingent upon the sale of the buyers’ property. If another offer comes in, the first buyer generally has 72-hours in which to remove their contingency, or the offer is void and the seller able to move on to another offer

 

2.       “PS” – pending, continue to show. Seller has accepted an offer; buyer has certain contingencies like property inspection, loan contingencies and a set time in which to remove them. During this period, listing agents generally want the property seen by potential buyers just in case the buyer decides not to go through with the purchase.

 

3.       “PN” – pending, do not show. Once all the buyer’s contingencies have been removed, property generally isn’t made available for further showings; it’s just a matter of the time ticking until loan is funded, buyer’s funds are all in place, escrow closes and the sale records.


So, for anyone in the Silicon Valley and San Mateo County who might be wondering the same, let's give a big thank you to my client for asking. If you have questions, please shoot me a note. Let the conversation continue!

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Pacific Union International

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 11 commentsLottie Kendall • October 12 2012 01:07PM

Comments

I guess every market area does things differently our market area has only 1 pending status but we have something different for the other 2 pending in your area.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (Coldwell Banker Camelot Realty) about 6 years ago

Pat, you're right. Real estate is practiced differently in different parts of the country, or the state in our case. Even the terminology is different. That's why I'm so glad when clients ask their questions.

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) about 6 years ago

You just taught me something Lottie, but that's not hard to do................LOL.

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) about 6 years ago

Interesting.  We just have two escrow statuses - B and P.  B for Looking for Backup an P - Pending.  Usually all the contingencies have been removed and everyone is waiting for the escrow to close.

Posted by Jane Peters, Connecting you to the L.A. real estate market (Home Jane Realty) about 6 years ago

Yes, interesting, but before this pending-show category I remember showing a house during a snow storm one dark, cold January evening.  I called the agent to say I would be writing a contract on her listing.  Lo and behold she told me that she already had a contract and was just showing the property for back-ups.  Ugh, Ugh, Ugh!  So glad we now have this category on MLS printout pending-show.  As agents we just need to see & read pending-show status.

Posted by Mary Yonkers, Erie/PA Real Estate Instructor (Alan Kells School of Real Estate/Howard Hanna Real Estate) about 6 years ago

Great post! You are right that many do not ask because they are embarrassed to appear not knowledgeable. SUGGESTED.

Posted by Sussie Sutton, UTR TEXAS Realtors - Rep for buyers and sellers. (UTR Texas Realtors) about 6 years ago

Hi Lottie, out here in the Valley of the Sun it's Active and AWC, (Active With Contingencies) instead of "Pending Sale" status.

Posted by Nancy Laswick, Your REALTOR® For The Valley Of The Sun (United Real Estate) about 6 years ago

Interesting, Nancy. It's easy for us to forget that our terminology might not be what our relocating clients know. That's why I'm glad when people ask their questions. Have a great week!

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) about 6 years ago

Good post.  It is easy for clients to become confused.  The real estate terminology also differs from market to market.

Have a great day and an outstanding weekend.

Chihuly Exhibit, Virginia Museum of Fine Arts

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) almost 6 years ago

Thanks, Roy. Every real estate market is so different, even the lingo. (BTW--I'm loving your Chihuly glass photos!)

Posted by Lottie Kendall, Serving San Francisco and the Silicon Valley (Pacific Union International) almost 6 years ago

It is so interesting to see the differences in real estate.  I was surprised to find out that even within our state the mls's vary so much with status and how they do things.

Posted by Christine McDaniel, Broker Associate (Coldwell Banker Residential Brokerage Porter Co.) almost 6 years ago

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