Online real estate platforms can be filled with industry jargon and terminology often varies from site to site. So, what do all these statuses mean?For Sale / Active:This seller has not yet committed to a buyer and is still looking to enter into a purchase contract. The home is “on the market,” and the seller is likely welcoming buyers for showings or an open house.Pending / Contingent / Offer-Show / Offer-No Show:This seller has chosen a buyer and is committed to moving forward with that purchase contract in good faith. However, they have not yet signed the final paperwork to transfer ownership. The seller and buyer may be using this time to work through agreed-upon contingencies, arrange funds, or prepare to move. Often the seller is no longer welcoming buyers for showings.Offer-BumpThis seller has chosen a buyer and is committed to moving forward with that purchase contract, but there is a stipulation in the purchase contract that a new buyer could supersede the current buyer under certain conditions. Often the seller is still welcoming buyers for showings.Sold / ClosedThe sale is complete and ownership has been transferred to the buyer and the home is “off the market.”The Mad City Dream Homes team is happy to help you decipher the online site you’re looking at or provide you with more accurate and timely resources. Give us a call anytime.