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In real estate terms what does pending mean

Wondering what the term "pending" means in real estate? Read on to understand its significance and how it impacts your home buying or selling process.

In the world of real estate, numerous terms and jargon can confuse both buyers and sellers. One such term is "pending." Understanding what it means is crucial, as it can affect your real estate transactions. In this article, we will delve into the meaning of "pending" and its implications. So, let's get started!

What Does "Pending" Mean in Real Estate?

When a property is labeled as "pending," it means that a seller has accepted an offer from a buyer, and the property is no longer actively listed for sale. The pending status indicates that the sale is in progress and moving towards closing. During this period, the seller is not accepting any other offers unless the current deal falls through.

Why Do Properties Go Pending?

There are several reasons why a property goes pending in the real estate market. Let's explore a few common scenarios:

  1. Accepted Offer: The most common reason for a property to go pending is that the seller has accepted an offer from a buyer. Once

Does pending mean a house is sold?

Eventually, a “contingent” listing status will move to “pending,” which means the issues have been resolved, and the deal is almost done. Homes are listed as pending because even though they are under contract, they haven't sold yet.

Does pending mean approved for a house?

In the real estate world, pending means a property offer has been accepted and the contingencies met, but the sale hasn't been finalized yet.


Is it better to be contingent or pending?

If a home is listed as pending, all contingencies have been met and the sale is further down the closing path, with most of the paperwork in place — but the transaction has not yet been completed. You are more likely to be successful making an offer on a contingent home than a pending one.

Does pending mean complete?

It means that while it may not be fully completed yet, those charges or payments will come through shortly. When you're checking your account balance, it's important to include any pending transactions when determining how much money you can spend.

How long does a pending transaction take for a house?

Pending offers (on average) tend to last anywhere between a week and two months, but delays do happen.

Does pending mean a house is under contract?

“Under contract” means the seller has accepted an offer, but there are still conditions to clear before closing. “Active under contract” means the seller is welcoming backup offers. “Pending” means the home is under contract, and all conditions have been met for the deal to close.

Can you offer on a pending house?

If the real estate listing has a pending status, it's still possible for you to put in a bid on the home yourself. But keep in mind: It's unlikely that the seller will be able to seriously consider your offer unless the other sale falls through.

Frequently Asked Questions

What can happen when a house is pending?

Answer box: When a home sale is pending, it means that the sellers have accepted an offer from a buyer. The home sale will close once the buyers and sellers sign the paperwork that makes the sale official. Once a home is listed as pending, the odds are low that other buyers will get the chance to purchase it.

Can a seller accept another offer while pending?

“Although this will cause some pushback and sometimes isn't looked at as the most ethical, a seller can legally still accept any other offer up until attorney review conclude as the deal isn't officially under contract.” For the most part, though, buyers more commonly back out of contracts rather than sellers.

FAQ

Can you put an offer on a pending house?
If you're house hunting and the property you had hoped to make an offer on just went pending on the local MLS, can you still make an offer? Typically the listing agent no longer accepts offers once the property is listed as pending sale, so you won't be able to place your bid.
What does a real estate pending mean?
Apr 4, 2023 — If the property is listed as pending, that means the contingencies have already been met, and the buyer is preparing to close on the property.

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