What is a Conditionally Sold property?

A property with this status means that someone is currently in the process of buying the home or listing. An offer has been written by a Buyer & usually after some negotiations, that offer has been accepted by the Seller. It is important to understand that the offer is conditional to either the Seller and/or Buyer satisfying certain conditions. In most cases, the Buyer makes their offer conditional to financing, inspections, etc.

Upon accepting an offer, the seller used to have the option to advertise their property as "Conditionally Sold" (Pending) or remain "Active" on MLS®; with no indication that they are currently pending a sale. Many found this strategy as deceptive, time consuming & confusing to many…

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