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What is active status?
The active status of a property on the market means that the property is currently available for sale. When you are buying a house, look for those that are ready to be sold. If a home is currently on the market and ready to be sold, its status will be active.
However, there are times when the house will be temporarily off the market and not ready to be sold yet. Or when the seller received an offer and waiting for a final sale. In this case, the property’s status will be off-market or have a different status other than active. In some cases, the seller will indicate the date property will be available for sale.
Types of Active statuses
There are many types of active statuses and some of them a shown below.
- Active No-Show: This status means that the property is active for sale. However, buyers cannot tour the property until the no show status is lifted. For example, if there are tenants living in a house or the family is still living in, the seller may put the house on the market and decide a future date to tour it for privacy purposes.
- Active Contingent: Active contingent status means that there is an offer on the house. However, there is a condition that must be met by the buyer before the deal is finalized. These conditions include but not limited to securing a loan, selling their current homes, etc.
- Active Option Contract: Also known as the due diligence period, this status means that the seller has an offer that is subjected to contingencies. For example, a buyer must inspect the property before he/she finalizes the sale.
- Active First Right: An active first right status means that there is an agreement between the seller and another buyer. This buyer will have the priority when it comes to buying the house and he/she must outbid other offers if they occur. Other buyers can buy the house if the previous buyer decided to not buy the house.
