seems like a pretty basic question and I should know the answer but I am unsure. If an offer is signed by both buyer and seller and submitted for 3rd party approval is it contingent or active status in MLS?
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In SoCal it would be "Backup" or "Contingent" until apporved and all Buyer contingencies are removed then it would be "Pending" until "Sold". In any case, once signed by Buyer and Seller it is NOT "Active" - and could result in a heavy fine.
Pending in my area, no different than any other contract
A fully signed offer is a contract. The property should be in pending status.
Thanks Bryant, that is what I thought but the question came up and I wanted authoritative back up for my position!!
Check with your local Realtor assoc on MLS regulations. Where I am at is pended BUT that just went into effect last summer. Before that we were allowed to market as active as long as we wrote it was under contract and looking for back-ups in comments. This was written into MLS regulations as an exclusion for short sales. Pending does make the most sense and avoids headaches.