01-10-2013 07:22 AM
Sorry Penny, I am not a realtor but usually you can find real estate terms online & this term is absent. By my 3rd home, I learned that home buying & selling is not rocket science, but some of these realtors like to make it much more difficult and mysterious then it really is, while shooting themselves in the foot.
01-10-2013 07:21 PM
01-11-2013 07:56 AM
C.O.S. is “Contingent on Sale”. Occasionally, you will also see “No COC” (Contingent on Closing). This is why you often (but not always) see these on REOs – because banks aren’t going to allow home sale/close contingencies on their contracts.
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01-21-2013 12:58 PM
Greg is right. The banks are not willing to wait to sell a home in their inventory while a buyer tries to get their home sold. They want to move the properties they have off their books so that they can lend against those assets. banks make money by loaning money, not by holding property. Good luck!