What Does COP Mean In A Submitted Offer?
We get a lot of questions about Real Estate in Santa Clarita. This week we’re answering your question what does COP mean?
A: COP stands for Contingency For Sale of Buyer’s Property. When a COP form is submitted along with an offer on a listing, it means that the buyer’s purchase of your home is contingent on the buyers selling their home first, or concurrently. Typically a time frame is established on how long the buyers will have to sell their home. If they cannot perform before the designated amount of time the seller may choose to grant an extension of this contingency, OR cancel escrow and find a new buyer.
If you are considering buying or selling in the coming months, connect with us here, or at 661-505-1051. For all your real estate needs, Mickalson Group.