The Multiple Listing Service, or MLS, is where agents list properties. The MLS has the following status codes for listings:

A = Active

The property is on the market, available for showings, and open to offers. It’s live on the MLS and publicly visible.

C = Contingent

The seller has accepted an offer, but the home is still being shown for potential backup offers. The current buyer is working through contingencies like inspections or financing.

P = Pending

The seller has accepted an offer and is no longer showing the property. All contingencies have likely been satisfied, and the deal is moving toward closing.

S = Sold

The transaction has closed. Ownership has officially transferred to the buyer.

T = Temporarily Off Market

The seller has paused showings—often for repairs or personal reasons—but it will go back to Active status.

W = Withdrawn

The listing was removed from the MLS. It may return later, possibly with a different agent or brokerage.

X = Expired

The property didn’t sell before the listing agreement expired. The seller may choose to relist with the same or a new agent.

• Seller - current legal owner of the property

• Buyer - purchaser of the property 

• Listing Agent & Listing Broker/Brokerage - represent the seller

• Buyer Agent & Buyer Broker/Brokerage  - represent the buyer

• Lender - usually either a Mortgage Company or Bank

• Title/Escrow - Third party company that researches the property, completes title search and assists with title insurance.

During the transaction, the lender, title company & escrow officer and I are working bees.  We’re in constant contact with each other as we lead you from start to finish. 

An earnest money deposit shows you’re serious about buying. It’s typically $1,000–1% of the sale price and is submitted once your offer to purchase is accepted.  Most contracts state earnest money is returned if contingencies are not satisfactorily met, but is not returned if buyer gets cold feet and wants to exit contract for a reason unjustifiable by seller.  

• Funds are held by a neutral party (like Infinity Title)

• change to Credited to buyer's funds due at closing

• Securely submitted via certified check or wire transfer

Infinity Title will provide exact instructions based on your transaction.
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Conversationally, we tend to use the terms “escrow” and “title” interchangeably.  You'll typically hear "Title Company" and "Escrow Officer", but you might hear "Escrow Company" or "Title Officer".

Escrow:

Escrow is a secure process that holds funds and legal documents until all conditions of a real estate transaction are met. It’s handled by a neutral third party - usually the title company - to protect both buyer and seller.

• Ensures all forms, payments, and legal steps are complete

• Coordinates with lender, buyer, seller, and agents

• Finalizes closing and records the deed

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• A deed is the physical document proving ownership (e.g., general warranty deed, quit claim).

• A title is the legal concept of ownership.

• Together, they legally transfer property from one person to another.

• If you lose your deed, don't fret. It's public record. Ask a title company to share a copy, or look on your county auditor's website.

• General Warranty Deed – Offers the strongest protection (with or without rights of survivorship)

• Special Warranty Deed – Protects only against title issues during the seller’s ownership

• Quit Claim Deed – Transfers ownership with no guarantees

Choosing the right deed matters when it comes to protecting your investment.

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This document comes from your lender. You get it at least 3 business days prior to closing.  It’s a line-by-line breakdown of items such as:

• Purchase price

• Closing costs

• Escrow fees

• Title insurance

• Prepaid taxes or insurance

It also shows your projected monthly payments.

The buyer’s CD and buyer’s ALTA Settlement Statement are balanced by the lender and title company right up to the day of closing.  

ALTA stands for the American Land Title Association. It's a national trade association that represents the title insurance industry and helps develop best practices for real estate transactions. 

This document comes from the title company. You get it 1 to 2 business days prior to closing. It’s a line-by-line breakdown of items such as:

• Purchase price

• Closing costs

• Escrow fees

• Title insurance

• Prepaid taxes or insurance

The Buyer’s CD and buyer’s ALTA Settlement Statement are balanced by the lender and title company right up to the day of closing.  

It ensures transparency before closing. We’ll review this together so you understand every item.

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This document comes from the title company. You get it 1 to 2 business days prior to closing.  It tells you your net proceeds after all deductions.

The Seller’s ALTA Settlement shows:

• Final sale price

• Agent commission

• Title and escrow costs

• Any owed mortgage or liens

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For the most part, yes. Real estate operates at the national and state levels. Plus, real estate negotiation styles and expectations can be regional. There is the National Association of Realtors (NAR) and each state has its own laws and regulations.