The differences between “Sold,” “Under Contract,” and “Accepted Offer” Sign Riders
Real estate signs can sometimes look like a puzzle of information, especially when it comes to those riders hanging beneath them. Let’s break down the differences between “Sold,” “Under Contract,” and “Accepted Offer” riders, so you can navigate the real estate lingo like a pro.
1. Sold Riders:When you see a “Sold” rider proudly displayed on a real estate sign, it means that the property has gone through the entire selling process, and the deal is done. The home is officially off the market and has found its new owner. As a real estate broker, you know that this is the finish line—the point where all negotiations, inspections, and paperwork have been completed successfully.
2. Under Contract or Accepted Offer Riders:“Under Contract” or an “Accepted Offer” rider signals that the property has an accepted offer and the buyer and seller are in the process of finalizing the details. The deal is in motion, but it’s not a done deal yet. There might be contingencies that need to be satisfied before the property can move to the “Sold” status. It’s a moment of cautious optimism where things are looking good, but it’s not time to celebrate just yet.
Each of these riders offers insight into the progress of a real estate transaction. From “Accepted Offer” or “Under Contract” and finally to the triumphant “Sold,” each rider symbolizes a different phase of the journey. It’s a bit like watching a story unfold, and you, with your real estate expertise, are the narrator guiding everyone through these twists and turns.