Q: Thank you for all of the email updates for homes for sale around Lake Martin. I see one I like- but it says “Pending” by the home’s info. What does Pending (Y) mean on your website?
A: For my website, (Lake Martin Voice.com) – I pull all of my information from the Lake Martin MLS. Regardless of what bloated sites like Zillow will try and tell you, the Lake Martin MLS is the most accurate and updated database for waterfront property here at Lake Martin. This is because it is made up of the real estate agents and brokerages here.
One of the fields of data we have is “Status.” When you see the Status = Active, that means that the waterfront lot or home is currently for sale. When you see Status = Pending, it means that the property is under contract. There has been an offer, and that offer was accepted, and the parties are working towards closing.
Typically, the time that a home is ‘pending’ is about five or six weeks to allow for the buyers to do their due diligence, such as the lending process, any inspections, surveys, etc.
Incidentally, once the sale has finalized and closed, the status is changed to “Closed” and it will be removed from the website. This is because, according to our Lake Martin MLS rules, sold properties are not allowed to be on public facing websites. Sold information is only visible to Lake Martin MLS members, so if you would like info on a sold property, please CONTACT ME HERE and I can help you with that.