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Visitor
Penny121314
Posts: 1
Registered: ‎01-09-2013
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What does "No C.O.S." mean?

I saw a listing on the market that after the main part of describing the house said "No C.O.S". Does anyone know what that means?

Visitor
Kendall
Posts: 4
Registered: ‎01-06-2013
0

Re: What does "No C.O.S." mean?

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.

Visitor
John919
Posts: 5
Registered: ‎12-07-2012
0

Re: What does "No C.O.S." mean?

Never heard of that.Maybe it is term only the one who used it understands.

New Visitor
JuanSolid
Posts: 1
Registered: ‎01-10-2013
0

Re: What does "No C.O.S." mean?

Searches for that as "no cos" have revealed an immigration term meaning no change of status..... I doubt this is the intention of the seller. If I had to guess logically I would think they really meant no cash off sale, which is kind of weird because the common term is firm.
Redfin Senior Agent
Greg-Whelan
Posts: 79
Registered: ‎03-02-2009
0

Re: What does "No C.O.S." mean?

Hi Penny121314,

 

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.

 

 

Greg Whelan | Redfin Chicago Team Lead
See all my deals and reviews
Contributor
JayKlosinski
Posts: 17
Registered: ‎03-01-2012
0

Re: What does "No C.O.S." mean?

Hiya Penny, 


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!

Jay