Keith Sorem

Shelly
In most MLS there are a number of terms for a listing that is available for sale. Your post does not mention a specific instance, so I will answer in general terms.

An Active listing is one that has not offers and is available for sale. Normally these are syndicated to other websites, most will show them as Active.

It becomes a little more complicated when an offer is submitted. Normally when an offer is initially submitted and accepted there is a "contingency period" during which the buyer has an opportunity (and an obligation) to investigate and verify that the property is suitable, and also obtain financing. During this period a property is still available for sale because the buyer may (and in this market often does) back out for a variety of reasons. In this market, lack of suitable financing is a big reason that buyers are unable to proceed with a purchase.

The listing agent's job is to make sure that the buyer is in fact qualified. With all the changes in lending standards, buyers that were qualified may later not be, so listing agents use a status called "back up offers", indicating that they do have an accepted offer, but are actively seeking other offers incase this one does not pan out.

Different MLS systems use different terms, such as "contingent" or "tentative". So it may be that a listing is "for sale" but does in fact have an offer that is not fully executed.

Feel free to post more if this does not answer your question. - A few minutes ago

Yvette
I do not know about real estate in Jamaica, so you need to check with an agent in your area.

In the US typically the seller of a home contracts with a Realtor to sell his property. The most common type of listing (there are different methods) is an Exclusive Agency Listing, which means that the seller is only using this one agent to sell his home and is offering to sell his home and pay the broker that brings a buyer an incentive, called the Selling Office Commission (SOC). So in most cases the seller pays the cost of commission to sell the property.

Most agents who represent buyers work on a commission basis, meaning that the agent is not paid unless the buyer buys a property with that agent. In order to even the playing field, good agents and buyers sit down and work out an understanding that is formalized in a Buyer Broker Agreement, which allows the agent to represent the buyer and also states that the agent is entitled to a fee if the buyer buys a property.

I think the most important issue that buyers have is unmet expectations. Sit down with your agent and work out a plan regarding the type of home you want, your budget, location, etc. This can avoid frustration later.

Good luck! - A few hours ago

Marilyn
Have you listed it with a Realtor?
My experience (first hand) is that managing long distance sales is very frustrating.
Do you need a referral? I can find one, no problem.
You can contact me via my Trulia profile or call me 1-888-284-2056.
Keith - A few hours ago

Roger
I see quite a few questions like yours, so your issue is not uncommon.

I am curious what the previous two Realtors told you when they listed your home for sale.
Do you believe that homes are not selling in Wheaton? You might want to look at the attached link.
I don't work in your market, so looking at the data it appears that prices are generally trending upward, and during the last six months 203 homes have sold.

So homes are selling, just not yours.

So, the rule of thumb is no showings, lower the price. showings but no offers, lower the price. Most homes are competing against 10-20 others based on size, location, condition, etc. I would ask your Realtor to show you the top five competitors. Go into them, take notes, then make an honest, apples to apples comparison.

Homes that sell in the first 30 days of market time will sell closest to asking price, your problem now is that EVERYONE knows that your home has been on the market for two years and has not sold. This is going to have an adverse effect on the value.

Your options:
1. Don't move
2. Price it high and don't move anyway - make plans for Thanksgiving and Christmas in town.
3. Price it at market and wait some more. People are wondering "What's wrong with that house"
4. Completely re-market. Repaint the trim in front, add flowers to the yard, declutter, re-arrange the furniture, mail out 200 invitations to the neighbors for a Back To School BBQ, have it open Saturday and Sunday next weekend, BBQ hotdogs, have a drawing for an iPod,

Oh, and price it UNDER market by 5%. You will probably get multiple offers. Remember, it's not how much your paid, how much you need to net, or how much you owe that buyers care about. Buyers buy the homes with the most value first. Project value. Include the appliciances, patio furniture, throw in a home warranty, free lawn care and snow clearance for the first year.

Get Creative, sell it now, not later. - Earlier today

Iiona
Just as a note, and this is not legal advice, foreclosure is a legal process. So if asked directly you might run the risk of legal entanglement by not answering truthfully. The first response may indeed correct. However, if the owner is listed as the occupant (the title shows that they owner lives on the property), then it is possible that if a legal notice is served, those serving it (usually LA County Deputy Sheriffs or process servers) expect to have the person that answers the door sign the acceptance. If you are not the legal owner then that would be apparent at that time.

It is frequent that those in foreclosure have other financial difficulties (otherwise why would they be in foreclosure?) so make sure to keep yourself out of their problems. - Earlier today