When you’re looking at Charlotte homes for sale, whether you want a luxury home or you need a house near Independence High School, you’ll find many real estate listing descriptions—and some of them will contain terms you don’t recognize but may need to know.
This guide will help you during your search.
Common Terms in Real Estate Listings
If a listing is active, it’s on the market and available for purchase. People may have made offers on it, but none of them have been accepted.
Active With Contract, or AWC
A home that’s active with contract does have an accepted offer, but the seller is still looking for backups.
Back on Market
Homes that go back on the market after a pending sale has fallen through are listed as back on market.
A closed listing is sold and not available for purchase.
If a home is in a contingent status, that means the seller has accepted an offer—but there are conditions that either the buyer or seller (or both) have to meet) before the deal is done. (You can learn more about contingencies here.)
When a home is listed as deal pending, the contract is wrapped up and everyone is working toward closing.
Pending, Subject to Lender Approval
This means the seller has accepted an offer but is still waiting on feedback from the lender; if it doesn’t work out, the home will likely end up back on the market.
Temporarily Off the Market
Sometimes a seller removes the property from the market for various reasons (typically, they’re making repairs or can’t show it); then it’s considered temporarily off the market.
A home that’s under contract is one that the seller has agreed to sell—but the deal isn’t done yet.
A seller can choose not to sell a home for any reason; if this happens, the home is withdrawn from the real estate market.
Are You Looking for Charlotte Real Estate Listings?
If you’re thinking about buying a home in Charlotte or the surrounding communities, we’d love to help you.
Call us at 704-608-2794 or get in touch with a Charlotte Realtor online today. In the meantime, take a few minutes to browse:
- All Charlotte, NC real estate listings
- Luxury homes for sale in Charlotte
- New construction for sale in Charlotte
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