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Accepted Offer Continue To Show - Greenwich CT Real Estate

There has been some talk about Greenwich houses that have been categorized by the MLS as AOCTS (Accepted Offer Continue to Show) being re-listed as Available, which means that they had an accepted offer, but didn't pan out. Some take this as a bad sign noting that something must have gone wrong with the transaction and assume that the buyer pulled out. The thing is that this happens all the time in real estate regardless of the market. Things happen all the time (inspections, mortgage, etc..). We might be noticing it a bit more now as the Greenwich MLS (multiple listing service) has created a new category requiring us to post when an accepted offer occurs. Deals fall apart all the time between when the buyers and seller come to an agreement and when contracts are signed. This has little to do with the economy and state of the market.  It just happens. Buyers get skittish, inspections pull up concerns, mortgages fall apart, anything can happen.

Since we don't have binders in the Greenwich real estate market, there is nothing holding a buyer legally to a purchase until a contract is signed, which makes it very easy for someone to bid on a property without locking themselves down to a 100% commitment.

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