Extend the expiration date on an Under Contract-Continue to Show listing

 

There is a change form in Add/Edit that allows you to extend the Show Date of a listing that is currently in the Under Contract-Continue to Show (UC-CTS) status. This will help you avoid having your listing automatically go to the Under Contract status after 60 days. We recognize that, in some instances, a listing is not ready to be marked Under Contract within 60 days of being marked UC-CTS.

Go to Add/Edit, select the desired listing and then click Extend Under Contract-Continue to Show (you will only see this option if the listing is currently in the Under Contract-Continue to Show status):

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This form displays the current Continue to Show and Proposed Closing Dates (highlighted in orange below):

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The Reset Under Contract-Continue to Show Date to Today field will automatically populate with the current date (you will not be able to enter a different date in this field). This essentially resets the 60 day clock back to 0, giving you another 60 days before the listing would automatically switch from Under Contract-Continue to Show to Under Contract. 

The Enter Extended Proposed Closing Date field is also on this form because you will not be allowed to reset the Under Contract-Continue to Show Date if the PCD is today's date or earlier. If this is the case, use that field to push out your PCD to a date in the future. 

 

Note: the PCD is just a rough estimate of when you think the deal will close. We are not looking for the exact date, nor will you be penalized if the PCD ends up not being 100% accurate. However, if your PCD passes, you will get a notification from our Compliance department letting you know that it must be pushed out into the future.  

 

*** It is recommended to consider extending the PCD whenever you use this form- that way you can be sure that your PCD is always far enough out not to cause you any issues. ***

 

You can use this form as often as you need to. Just remember, if your listing reaches its expiration date while it is in the Under Contract-Continue to Show status, it will expire.

 

Keep an eye on the My Listings widget on the Matrix home page. There is an alert in there that will let you know whenever you have a UC-CTS listing that is within 7 days of automatically changing to Under Contract:

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If you see that alert and want to keep this listing in the UC-CTS status, use the Extend Under Contract-Continue to Show form to reset the 60 day clock to 0.

 

 

 

Related articles :

Change Proposed Closing Date

 

 

 

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