BIC TIP #1284: Sold in Coming Soon Status
Sold in coming soon status? Yes, it can happen. In this BIC TIP, Stephen Long reminds brokers that a house can actually go under contract while it is still in Coming Soon, and explains why, once a buyer has been inside, there is no going back to Coming Soon.
Coming Soon Means No Showings
Coming Soon status means exactly what it sounds like: the property is coming soon, and there are no showings. Nobody is touring the home yet.
That does not mean nobody can make an offer. A buyer can make an offer sight unseen, and a seller can accept it. At that point, the property is under contract while still in Coming Soon status.
Sight Unseen Is Still an Offer
Some buyers are comfortable writing on a property they have not walked through, especially in a competitive market or when they know the neighborhood well. Buyer agents, make sure your clients understand the risks of offering sight unseen and plan their due diligence accordingly.
Listing agents, make sure your seller understands what accepting an early offer means and how it fits with their marketing plan.
Once Someone Walks In, Everyone Gets a Turn
Here is the key rule. Once that buyer enters the property, whether for inspections or just to see it, the property cannot go back into Coming Soon status. Once someone has viewed the property, everyone gets the opportunity to view the property.
The home can certainly stay under contract. But if that contract falls through and the property goes back on the market, it goes into Active status. You cannot re-enter Coming Soon.
The Practical Takeaway
Coming Soon can produce a contract, but it is a one-way door. As soon as a buyer gets inside, the fairness principle kicks in and the property must be available to everyone if it comes back on the market.
Know your MLS rules, explain the trade-offs to your seller, and when in doubt, check with your broker-in-charge.
This BIC Tip is general real estate education for licensees and consumers, not legal, tax, or financial advice. Rules and forms change, so verify current NCREC rules, MLS rules, and standard forms, and consult a North Carolina attorney or qualified professional about your specific situation. See Disclaimers & Disclosures.
