What does CTG stand for in real estate?

What does CTG stand for in real estate?

Contingent (or CTG): Effectively the same as UAG or Under Agreement, Contingent means that there is an accepted, signed offer. It is a legally binding agreement, but sometimes the sellers will take “backup offers” just in case something happens and the property goes back on the active market.

What does reactivated mean in real estate?

Reactivated (RACT*): A listing that was previously showing Contingent, Pending or Temporarily No Showings.

What is UAG in real estate?

UAG – Under Agreement. There is a signed, accepted offer. That is, there is a legally binding agreement between Buyer and Seller. CTG – Contingent. There is a signed, accepted offer.

What does BOM stand for real estate?

BOM indicates a home that was in contract to be sold, but is now “Back on the Market.” “No fault of the house” may describe a situation in which the buyer lost interest in the home after a long short sale process or failed to get final loan approval, as contrasted to a situation in which the home’s inspection turned up …

What does UC mean in real estate?

Going under contract is a very exciting moment in the home buying process. CONGRATULATIONS! It means you have found a home you love, have made an offer that the sellers found acceptable and now you can start the remaining process of buying a home.

What does temp mean in real estate?

When a property is in Temp Off Status, the listing agreement is still in effect and the seller is still planning to sell the property. However, the property can not be shown at this time. Some examples of when the Temp Off Status may be appropriate are; home repairs, illness of owner or family member, or storm damage.

What is pending P&S?

▸Definition of ‘Contingent: Pending P&S’ – An offer that the Seller has verbally accepted, but is pending an Executed P&S and can’t be marked UAG but can still be shown for Back-Up offers. ▸The Bank does not sign offers.

What does MLS status UU mean?

• U- Under Contract, Do not show – Property is not to be shown, contract exists – See Remarks. • May remain as Under Contract indefinitely (if the deals falls through, the listing agent needs to change the listing status to Active or Expired).

What does YN mean in real estate?

For Rent YN – Signifies whether the property in question is also available for lease. Foundation – Use this field to define the type of foundation used in the improved property.

What does listing removed after pending sale mean?

One is that the property is withdrawn from the MLS if the seller terminates the listing agreement. Many homeowners choose to remove their home from the market, the reason can be to make necessary improvements or repairs, and then re-list the home once completed to attract more prospective purchasers.

What does DT mean in real estate?

Documentary Transfer Tax – One time tax paid to County Recorder’s office upon recordation of a transfer of ownership form. EASEMENT. A right or interest placed on the property to benefit someone else. EDD. Employment Development Department – California government agency which handles employee/employer taxes.

Properties that have CTG have an Offer accepted, but there are still contingencies. Some sellers want to show their houses right up to closing day, in case something goes wrong. Properties that have ACT with a little clock icon have an Offer accepted, but there are still contingencies with a specific deadline.

How many real estate terms are there in real estate glossary?

Here are 497 terms and definitions to use as a study guide for the real estate agent exam. If you’re already a salesperson or broker, than this real estate glossary will help you brush up on phrases that you may not come in contact with on a day to day basis. One down, 496 terms to go. What can I do with these real estate terms?

Are there any real estate terms that start with D?

Real estate terms that begin with D Datum A horizontal plane from which heights and depths are measured. Defeasible fee estate A qualified estate in which the grantee could lose his or her interest upon the occurrence or non-occurrence of a specified event.