What does SB mean in real estate?

What does SB mean in real estate?

it means that the sale to a buyer is already in the works but they are still showing the house to others as a back up incase the current buyer cannot complete the purchase for some reason.

Can a seller accept another offer while contingent?

Contingent – With No Kick-Out This means the seller cannot accept another buyer’s offer unless certain requirements are not satisfied with the current accepted offer. This is good for the current buyer, because they can’t be “kicked out” unless they don’t meet their contingencies.

What is the difference between pending and pending contingent?

The difference between pending and contingent is that pending means the home is already under contract with another buyer and that all the terms and contract work has been done. Meanwhile, contingent means that the closing is still contingent on one or more factors being met.

Why do sellers accept backup offers?

A seller may accept backup offers so if the current buyer walks there is another purchaser ready to close the deal. By collecting backup offers, the seller avoids having to remarket the listing, show the home again or sift through numerous new offers, because backup buyers eagerly await the home on the sidelines.

What does AR mean in real estate?

Augmented reality property
Augmented reality property signage. AR Tours Showing Homes Before They Are Built. Selling a home is about selling a dream. For a developers, it can be difficult to help the potential buyer visualise an end product. This means sales processes become lengthy and developers can face issues with pre-selling projects.

Can you outbid a pending offer?

Do not try to outbid the current pending sale; as stated above, this is a no-win situation. Simply bid what you would have bid on the property anyway considering the home value, the location, and the botional tie that you may have to the house.

Can I outbid an accepted offer?

If the purchase contract hasn’t been signed, the seller could accept another offer, even if you think they’ve accepted yours. The seller generally cannot cancel your contract if you are in compliance simply because the seller received a better offer from another buyer.

Can pending sales fall through?

A sale that is “under contract” means an agreement has been made between the seller and buyer, but the sale is still subject to contingencies. In a “pending sale,” contingencies have lapsed, and the deal is near closing. A pending sale can still fall through if there’s an issue with financing or the home inspection.

Do pending offers fall through?

What does SIP mean in real estate?

State Implementation Plan
State Implementation Plan (SIP) – Real Estate Prep Guide.