Back on market
A home that went under contract but returned to active status because the deal fell apart. It does not always mean something is wrong with the house; financing or the buyer's own sale may have failed.
Also called: BOM, back on the market
Related terms
A home that is currently for sale and taking offers. It has not yet gone under contract with a buyer.
The seller has accepted an offer, but the deal still depends on conditions like an inspection, appraisal, or loan approval. Some contingent homes still take backup offers.
The seller has accepted an offer and the main conditions are cleared or waived. The sale is waiting to close and usually no longer takes new offers.
A condition in the contract that must be met for the sale to go forward, such as an inspection, loan approval or appraisal. If it fails within the deadline, the buyer can usually cancel and keep the earnest money.
How long a home has been listed for sale. A high number can mean room to negotiate; cumulative DOM counts time across relistings.