When you’re searching for your dream home, you’ll likely come across a bulk of jargony terms meant to describe a home’s status.
You will find terms like Active and sometimes it includes another status to indicate the step where the house is in the selling process.
What Does Active Mean on Zillow?
The real estate website Zillow.com is a popular resource for home buyers, sellers and renters.
One of the key things that users want to know is the status of listings on the site. In particular, they want to know what “active” means.
Active listings on Zillow are those that are currently available for sale or rent. This includes properties that have been newly listed as well as ones that have been on the market for awhile.
The term “active” is used to contrast with “inactive” listings, which are no longer available for sale or rent.
There are a few different reasons why a listing might become inactive on Zillow. The most common reason is that the property has already been sold or rented.
Other reasons include errors in the listing information and properties that are temporarily unavailable (for example, if they’re being renovated).
What Does Active Under Contract Mean?
If you’re in the market for a new home, you’ll likely see the term “active under contract” at some point. But what does it mean?
An “active under contract” designation means that a home is no longer available for showings, but the sale has not yet closed.
In most cases, the buyer has already submitted an offer and it has been accepted by the seller.
The active under contract period is generally used to allow the buyer to obtain financing and complete any inspections or repairs that may be required.
Once all of those tasks have been completed, the sale will close and the home will be officially off the market.
If you’re interested in a home that is active under contract, you may be able to submit a backup offer in case the deal falls through.
Other Active Statuses.
Here are the other active statuses used in the real estate and what they mean:
Here’s what you need to know about this real estate term.
When a home is listed as active contingent, it means that the seller has accepted an offer from a buyer, but the sale is contingent on certain conditions being met.
These conditions can vary, but often include things like the buyer obtaining financing or the property passing a home inspection.
If you’re interested in a home that is listed as active contingent, you may be able to submit a backup offer.
This means that if the sale falls through due to one of the contingencies not being met, your offer will be next in line.
Active – First Right
In real estate, the term “active first right” refers to a situation in which the party that has the first right to purchase a property is also the party that is actively working to purchase the property.
This can be contrasted with a situation in which the party with the first right to purchase is not actively pursuing the purchase, but is merely holding onto their right in case they decide to pursue it at some point in the future.
Active first rights are often used in situations where there is a potential for multiple buyers to be interested in the same property.
In these cases, having an active first right allows the party with that right to have an advantage over other potential buyers.
It also puts pressure on other potential buyers to make their offers quickly, before the party with the active first right decides to exercise their option.
This term is used to indicate that the seller has accepted an offer, but the sale is contingent on the buyer being able to sell his or her current property before proceeding with the sale.
The seller can continue to market the home. And depending on the terms of the “kick out” clause, if they find another buyer, the seller can actually kick the first buyer out of the contract for failing to move forward with the purchase process within a defined period of time.
Active – No-Show
The status “active – no-show” denotes that the property is actively up for sale, but the seller has made it clear that tours are not permitted at certain times.
Active Option Contract
The seller has accepted an offer, but it is still inside the option period if you see the status “active option contract.” This indicates that the buyer has a predetermined number of days to arrange an inspection of the property.
An active option contract is sometimes referred to as a contingency period or due diligence period.
Active with Contingencies
When a property is marked as Active with Contingencies, it means that an offer has been accepted by the seller, but the sale is not yet final. There are usually contingencies that must be met in order for the sale to go through, such as the buyer securing financing or the inspection being satisfactory.
If you’re looking at properties that are Active with Contingencies, it’s important to find out what the contingencies are and if they are likely to be met.
If you’re working with a real estate agent, they will be able to help you navigate these listings.
Click here to learn what exactly contingencies mean.
In conclusion,an “Active” status on Zillow means that the listing is still available and the seller is still entertaining offers.
This is good news for buyers who are looking for a deal on their dream home. So, if you see a property you like that has an “Active” status, don’t hesitate to contact the seller and make an offer!