Showing Off Spencer-Discovering Spencer, the Brookfields, Worcester County, Massachusetts and New England: Under Agreement, Offer Excepted and On Deposit~Not Easy Terms for Everyone

Under Agreement, Offer Excepted and On Deposit~Not Easy Terms for Everyone

Today I got this email;
 
Hi Pam, Could you tell me what under agreement and offer excepted means?

Thank You!

and it reminded me that sometimes what's easy for me, is not always easy for someone who does not do real estate every day.
 

So I thought I would write this simple blog to help those who have the same question.

Under Agreement, Offer Excepted, Accepted offer, and On deposit, all mean the same thing for the most part.  It means that a buyer has made an offer on a property, and that the seller has accepted the offer.  The transaction/sale process is now moving to the next stage.  In Massachusetts, the next process may very slightly.

In many cases, the agent at the selle's direction with continue to market the property, and take back up offers.  Us agents may refer to that as active flagged.  If the average consumer was looking on many of the real estate web sites, it would appears as though these properties are still for sale.

 Pam Crawford

Pam Crawford, ABR,e-PRO®,CRS,CDPE,LMC

Owner, REALTOR®, Managing Partner, MBA, BSBA
RE/MAX Professional Associates

 

phone/fax (508)-784-0503    
e-mail: Pam@PamCrawford.com
www.PamCrawford.com
www.CrawfordRealtyTeam.com

 

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Comment balloon 1 commentPam Crawford • October 23 2011 02:13PM

Comments

Hi Pam - We do take our real estate words for granted.  PIT, UAG, DOM, etc.

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) almost 7 years ago

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