Accepted Offer — Why Is That Home Still Listed Online?

If you're house-hunting in Westchester County and spot a home listed as “available,” it’s natural to assume it’s still up for grabs — but here’s where New York real estate begins to get a bit tricky. Unlike many other states, New York prohibits real estate brokers from drafting contracts. That means there’s a period of time between when a seller says “yes” to an offer and when a contract is drafted by the attorneys for both sides to sign. During this interim, the offer is considered “accepted”, but that is essentially a handshake deal. Because an “accepted offer” is only a verbal agreement, both sides can still walk away for any reason. As a result, most sellers continue to show the home until a formal sales contract is signed.

Here’s what you need to know:

• Sellers often keep showing the home and may consider backup or stronger offers.

• If showings are ongoing, properties will still appear as 'available'.

• If a seller pauses showings, properties will be marked as ‘temporarily off market’.

• Buyers can withdraw or revise their offers at any time.

Ralph’s Take

Letting a buyer know that their accepted offer was bumped by a stronger one — as I had to do this week — is one of the toughest calls we make. I wish there was more willingness within the industry to pair binder agreements with actual offers, giving buyers some level of protection. It’s also worth noting that real estate brokers are required to disclose accepted offers, and we do that through the MLS. So, if you’re watching a property and want to know its status, don’t hesitate to reach out. I’m always happy to check on it for you.