Active, Pending, Under Contract. What?

Vermont real estate rules require specific terms are used to describe the status of a property listing. Those terms are often misunderstood. Here’s a primer on the differences of a key few.

Active

This identifies a property that is available for purchase, and if you want a showing as a ready, willing and able buyer, you can expect to schedule a showing within 48 hours of your request, unless the listing explicitly states ‘delayed showing’ to a specific later date. Ask your buyer agent for a showing, giving them best dates and time ranges up front, so they can request/book it quickly.

Active Under Contract 

This identifies a VT property where the seller has accepted and signed a contract for purchase with a buyer. This does not mean the deal is “closed” or “sold”. There may be contract contingencies to be satisfied, such as a property inspection or financing. What it distinctly means is the Seller is willing to continue showing it to other buyers, who may want to make a back-up offer.

Pending

This identifies a property where the seller has accepted and signed a contract for purchase with a buyer, just like Active Under Contract. The only difference, then?  The Seller wants to stop showing it other buyers. 

Withdrawn

This identifies a property where the seller has an agency agreement to market it, but the Seller does not want to actively market it on MLS, or other major websites. The reason? It may be the seller is simply dealing with recent storm damage/cleanup or even something unrelated to the property.

Expired/Terminated

These terms identify a VT property where the listing agreement expired. Or, the seller and listing agency mutually agreed to end the listing agreement early. In VT, listing agreements can be up to a year in duration. The reasons for not renewing an agreement are many. It can simply be that the Seller’s changed their mind.

Would you like to better understand the market as a buyer? Give us a call, text or email. We love helping buyers and sellers become fully informed about VT real estate rules and best practices.