1. Pursuant to Rule 2.5, when a seller accepts an offer to purchase, the property’s Active status must be changed to Pending within 2 days, unless specified in subsections 2. through 4. below.
2. If a seller instructs that the listing maintain its active status in an effort to attract backup offers, “Yes” must be selected in the field for “Contract Pending” to effectively add the words “Contract Pending” as the first words in Public Remarks by the end of the next day of the earlier contract acceptance, and the listing may maintain Active status.
3. If the seller has accepted an offer to purchase which includes a provision that the contract may be terminated by the seller unilaterally and immediately by acceptance of a subsequent offer, the listing may maintain Active status without checking “Yes” in the field for “Contract Pending” in the MLS.
4. When a seller accepts an offer to purchase which is contingent upon the sale or closing of another property owned by the buyer, and the seller must give the first buyer the opportunity to remove the home sale contingency prior to the acceptance of a subsequent offer, selecting “Yes” in the “Contract Pending” field may be replaced by selecting “Yes” in the “Home Sale Contingency” field to effectively add the words “Subject to Existing Home Sale Contingency” as the first words in Agent Remarks, and the listing may maintain its Active status.