Under Contract Accepting Back-Up Offers.
UCB (Under Contract Accepting Back-Up Offers) – This means an offer has been accepted however the seller has chosen to accept back-up offers. By selecting UCB you are choosing to market the property for sale even though an offer has been accepted.
What does UBC stand for in real estate?
UCB is short for “Under Contract – Backups” and means that the property in question has an accepted contract on it, but that the sellers have requested in writing that the home will continue to be marketed in hopes of getting backup offers.
What does UC date mean in real estate?
Under contract
Under contract (UC)
The seller has an agreed-upon contract with the potential buyer. That doesn’t mean that it’s a done deal by any means, however (more on that next).
What does Cs in real estate mean?
Sold Conditionally
When a home is ‘Sold Conditionally‘ it means that a buyer and seller have come to an agreement on the sale of the property. However, there are conditions that have to be fulfilled as part of the agreement for the deal to be considered binding, or what realtors refer to as a ‘firm deal’.
What is a UBC modular home?
MODULAR HOME – If the home is a modular built after 1971, it should have a tag called a “Factory Built Unit Certification” attached. This certifies that it has been built to the requirements of the Universal Building Code (UBC), which is the same requirement of stick-built homes.
What is MLS in real estate?
REALTORS® have spent millions of dollars to develop Multiple Listing Services (MLS) and other real estate technologies that make the transaction more efficient. An MLS is a private offer of cooperation and compensation by listing brokers to other real estate brokers.
Are Zillow owned homes negotiable?
You can shop for Zillow-owned homes on the website or through the Zillow app. Can you negotiate when selling a home to Zillow Offers? No, Zillow Offers says it makes its best offer upfront. If you want to negotiate with buyers and choose from multiple offers, you’ll need to list the home on the open market.
How often do contingent offers fall through?
The bottom line. Overall, successful contingent offers are common. According to the National Association of Realtors (NAR), 76 percent of all homes sold in January 2018 had contingencies. Among contingent offers, less than five percent fall through, according to multiple sources.
Are backup offers worth it?
The reasoning behind this is that your backup offer gives the seller a safety net that prevents them from having to reenter the market if their primary offer falls apart. That security may be worth accepting a slightly lower price than the current offer.
What does BTV mean in real estate?
BTV stands for Buyer to Verify (real estate sales)
What does v l mean in real estate?
loan-to-value
LTV, or loan-to-value, is a ratio that lenders use to assess the risk involved with extending a mortgage loan to a borrower. The LTV ratio amounts to the mortgage amount divided by the appraised value of the property the borrower desires.
What does CTG mean in real estate?
Contingent
CTG – Contingent.
If a property is said to be under agreement or contingent or pending or under contract or active with contract or have a signed offer – it means the same thing. Namely, that there is a signed, accepted offer between Buyer and Seller.
Do modular homes hold their value?
Yes, modular homes are often a very good investment! Unlike mobile homes, which tend to depreciate with time, modular homes hold their value or even increase with time. In many cases, the resale value of modular homes will be higher than the initial purchase price.
What is a UBC IBC IRC standard modular?
Modular homes are factory built to standards set by International Residential Code ( IRC ), and International Building Code ( IBC ) for non-residential property. Prior to 2003, the standards were set by Uniform Building Code ( UBC ). Modular homes are typically placed on a permanent foundation and not titled.
What is the difference between a modular home and a sectional home?
Sectional homes sit on a steel frame, and can be moved on wheels if necessary. Standard exteriors include a 5/12 pitched roof, vinyl siding, shingles, and shutters. Modular homes sit on a wooden frame, and once set, cannot be moved.
Is Zillow an MLS?
Does Zillow use an MLS for its listings? In part. Many MLSs are part of the Zillow Partnership Platform (ZPP), which was created by a direct relationship between Zillow and the originators (brokers) or keepers (MLSs) of the listing information.
Which document is the most important at closing?
It often includes a description of the property and signed by both parties. Deeds are the most important documents in your closing package because they contain the statement that the seller transfers all rights and stakes in the property to the buyer.
Is Realtor CA the same as MLS?
It is important to note that REALTOR.ca is not an MLS® System. It is an advertising website that The Canadian Real Estate Association (CREA) created to give REALTORS® across Canada greater listing exposure to a national and international audience.
Will Zillow accept low offers?
Zillow Offers is a multi-state home direct buyer that provides fast home sales for cash typically accompanied by lower-priced home offers. Zillow Offers makes money with fees and a difference between buying and selling each home. Almost 98% of all Zillow Offers are declined.
Why is Zillow selling houses at a loss?
Real Estate
Zillow said last week that it was shutting down the business because it couldn’t accurately predict future home prices and was losing too much money. The company expects to record losses of more than $500 million from home-flipping by the end of this year and is laying off a quarter of its staff.
Can you back out of a Zillow contract?
If you have a current contract, you may cancel your agreement prior to the end of its term, but you are subject to an early termination fee equal to twice the monthly minimum spend stipulated in your contract.
