Definition of active option contract


While pending, a home will no longer be shown. Louis MLS, we have 11 different statuses that a listing can have. Z Zero Lot Line. The home will not be shown during this period. In some locations, the active option contract is referred to as a contingency period or due diligence period.

While pending, a home will no longer be shown. The option period is the time period during which inspections are being performed and according to the St. The option fee cannot be recovered by the buyer if they back out of the sale, even if it's for a reason covered by a contingency in the contract.

A professional real estate agent can help any buyer or seller understand how to navigate the real estate system in St. Days on market count is suspended during this period. The home will not be shown during this period. Exclusive Right to Sell Listing.

O Offer and Acceptance. It resumes when the home listing is activated again. The option period is the time period during which inspections are being performed and according to the St. During this negotiated time period, the buyer usually inspects and evaluates the property with the option of terminating the transaction. If the definition of active option contract is reactivated if the contract falls apart, all of the days on market to date are picked up and applied to the listing.

O Offer and Acceptance. The days on market count is terminated with this status. Louis Association of Realtors board contract, it is the time period during which a buyer can terminate a contract definition of active option contract purchasing a building inspection. The listing agent would need to be consulted on a case by case basis under this status. As real estate becomes more complicated, the MLS statuses seem to have become more complicated as well.