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When a MLS listing changes from ACT to AO, what does AO mean?

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It should be “active with an existing option to purchase the property”. It happens when seller accepts an offer, but the property has a mortgage. The offer needs to be submitted to the bank and the seller has to wait for response. Sale approval may take a few months, therefore the property is not removed from the listing. If another potential buyer makes an offer, it is in the backup position until the first offer falls out or closes.

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