C/Contingent – equivalent to ES (Escrow-Showing)
There is a pending purchase agreement or the property is in escrow, and the property is available for immediate showing pursuant to the seller’s instructions. The listing will not automatically expire in the system.
U/Under Contract – equivalent to EN (Escrow-Not-Showing)
There is a pending purchase agreement or the property is in escrow, and the seller has directed that no further showings are to be allowed. The listing will not automatically expire in the system.
Legal title has changed hands. The listing will not automatically be purged from the system.
Sold, Contingent and Under Contract are all located within “Report Sale”
This is located in two places within REsearch.
Main Menu › Listings › Report Sale
Main Menu › Listings Menu › Sale
Enter your MLS number or use the Select Listing tool
Verify you are working on the correct listing.
Select the new status
All three statuses require a Contract Acceptance date
Choose as many contingency types as needed. Enter the acceptance date. Click Update.
Only a Contract Acceptance Date is needed for Under Contract.
Sold (Report a Sale):
Sale Terms, Sale Condition, Sold Agent ID, Contract Acceptance Date, Sold Date, and Sold Price are all required fields.
*Sold Agent ID – Who represented the buyer? The buyer’s agent ID should be entered here.
*Additional Agent(s) – Any additional co-buyer’s agents are added here. Percentage splits are also done here.
Click here for Sale Terms details
CNV – Conventional – A loan that is not underwritten by a government agency
FHA – A federal administrative agency, established in 1934, and now operated under the auspices of the Department of Housing and Urban Development.
VA (Veteran’s Administration) – A loan partially guaranteed by the Veterans Administration under the Servicemen’s Readjustment Act of 1944 and later, made to an eligible veteran or to an unremarried widow or widower of an eligible veteran for the purchase of real property.
ASSUM – A method of selling real estate wherein the property purchaser agrees to take over the primary liability for payment of an existing mortgage.
CASH – Cash sale
FMHA (Farmer’s Home Administration FmHA) – A federal agency charged with making farm-related housing available in smaller rural communities.
1031 – A tax-free exchange of like-kind property under the provisions of Sec. 1031. Exchange allows an investor or business owner to convey an income or business property in exchange for a similar property.
HULA – An innovative mortg. loan prog. created by the HI State Legislature in 1979 for low/mod. income. Through the sale of tax-exempt revenue bonds, the prog. provides eligible buyers with mortg. loans at int. rates below those available on conv. loans.
PMM (Purchase money mortgage) – A mortgage given by the seller simultaneously with the purchase of real estate to secure the unpaid balance of the purchase price.
A/S (Agreement of Sale) – A written contract that is approved by both buyer and seller and contains approved details of the real estate transaction.
MISC – Miscellaneous terms were accepted.
EXCH – A tax-free exchange of similar prop under the provisions of Sect. 1031 of the Int’l Rev Code. An exchange allows an investor/bus owner to convey an income/bus prop in exchange for a similar prop. In gen’l the new prop. must be of the same value/or greater.
Construction – A loan made to the builder or home owner that finances the initial construction of a property, but is replaced by a traditional mortgage once the property is completed.
ARM – Adjustable Rate Mortgage. Mortgages with an interest rate that may change up or down depending on an indicator. There are usually based something like the current Treasury bill rate.
Lease Option – A lease that contains the right to purchase a leased fee estate by the tenant under terms defined by the lease or by separate agreement.
Sale/Leaseback – Is a financial transaction, where one sells an asset and leases it back for a long-term: thus one continues to be able to use the asset, but no longer owns it.
USDA – United States Department of Agriculture
Other – Not listed here, see remarks section.
Click here for Sale Conditions details
Bankruptcy – A fed’l legal proceeding that allows insolvent debtors to escape further liability from debts incurred up through the time of filing bankruptcy. Secured creditors receive preference in the distribution of proceeds from the sale of the petitioner’s assets.
Pre-Foreclosure – Legal action has been filed by the lender to gain ownership of the property
Probate – The judicial process of proving the validity of a will and overseeing the final distribution of the decedent’s estate.
REO/Lender Sale – Refers to the property legally repossessed by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction.
Short Sale – Refers to the sale of real estate in which the sale proceeds fall short of the balance owed on the property’s loan and takes place when a borrower cannot pay the mortgage on their property.
Standard Sale – Normal property sale
Other – Not listed here, see the remarks section
(NR) = Not a required field
(NR) Buyer Credits: The amount of buyer credits (Buyer credits are usually for repairs, closing costs, etc.)
(NR) Buyer Credit Remarks: Any comments regarding buyer credits.
(NR) Sale Condition Remarks: Any information regarding the condition of the unit.