What Does a Status Code Mean in Foreclosure Information?

Home foreclosure information is easily located online.

When a foreclosed home is posted for sale, the property information will include a status code in the local MLS (Multiple Listing Service). Several different status codes are used, and all are in reference to current sale data.

Significance

Status codes help local real estate professionals to determine their ability to show a property to a potential buyer. Status codes define available property, as well as properties currently under contract, sold or withdrawn from the market.

Active Status

Active status indicates that a property is available to be shown to and purchased by a willing buyer.

Active Option

Active option tells real estate professionals that there is a contract accepted on the property but the option period granting the buyer and seller the unrestricted right to cancel has not expired, so the property can still be shown.

Pending

The option period of pending status is over, and the property is pending closing. In these circumstances, property can be shown, but any offer placed would be a back-up offer, only considered if the original transaction falls through.

Sold

Sold status means that the property has been closed and sold, and is no longer available.

Withdrawn/Expired/Canceled

These three status codes are used when a property is either being moved from one brokerage to another to be listed again -- meaning that it will become available again at a later date -- or has been sold directly by the bank to an investor.