I got a great question on my blog yesterday and as I started to answer, I realized that it’s an important question with an answer worth sharing with anyone who visits this site searching for homes.
The question was:
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I saw some houses for sale on your website and noticed some said AWC-C, AWC-I and AWC-O. What do these mean and are these houses still available?
AWC stands for Active with Contingency, and it’s used if the property owner chooses to continue marketing the property. Per our local MLS rules, if the owner does not wish to continue marketing, the agent should change the listing to Pending regardless of any contingency.
AWC-C (Contingent Offers) – This status is used when the sale of the listed property is contingent on the sale of buyer’s property.
AWC-I (Seller Written Instructions) – The AWC-I status was originally created for the situation where the seller puts in writing to continue marketing the property, even with an accepted contract in place. A typical seller may want to kept the house available for showings, if the first offer is not particularly strong, or if they would like to consider a backup offer.
In our current market, you will see this status with short sales. The seller has accepted a buyer’s offer, but the seller’s lender has not. Once the lender and seller and buyer agree to terms, the status is changed to Pending. There are situations where a short sale may have multiple contracts submitted to the bank, and in this case, the home will still show as Active.
AWC-O (Existing Option to Purchase) – The seller and buyer have agreed to an option to purchase.
I just did quick check of the Active Scottsdale listings, and there are currently 3,496 homes for sale, in the Active status. In addition:
- 139 properties are AWC-C.
- 481 are in the AWC-I status. 376 of these are short sales.
- 2 are AWC-O.
Properties in AWC are still being actively marketed, and are available to show. Offers can be submitted, but they would be considered as a backup offer. Should the offer in first position be cancelled, the backup offer automatically moves into first position.
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