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 under contract or pending?
Under contract vs. sale pending: What's the difference? While “under contract” typically means there are still contingencies left to clear, pending status usually means all contingencies have been met and the deal is on its way to closing. Pending listings are less likely to accept backup offers.
Why is my listing pending?
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.
Why does Zillow say pending?
When a listing on Zillow - or any other real estate site - is pending, the property owner/seller has accepted an offer, but the closing hasn't happened yet. During the time between offer acceptance and closing, many steps must be taken, such as a title search, home inspection, home appraisal, and obtaining a mortgage.
Does pending transaction mean it went through?
What is a pending transaction, and how long can it stay pending? A pending transaction is a recent card transaction that has not yet been fully processed by the merchant. If the merchant doesn't take the funds from your account, in most cases it will drop back into the account after 7 days.
How long do most houses stay pending?
But on average, homes are listed as pending for 30 – 60 days. If the buyer is paying in cash, they may close on the house much sooner.
Do pending sales usually go through?
When a home's status changes to sale pending, it means the seller has accepted the buyer's offer and both parties are ready to move forward. Failed pending sales don't happen all the time, but they do occur even in a thriving real estate market.
Frequently Asked Questions
At what point do most house sales fall through?
- The appraisal is lower than the sale price.
- The buyer can't sell their old home.
- There are issues with the title.
- The home isn't insurable.
- The buyer is inexperienced.
- There are details missing on the paperwork.
- The buyer or seller gets cold feet.
Can you still make an 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.
Why would a house be pending for so long?
“In the event the contract close date is delayed for funding or repair issues, the pending status would continue until there's a resolution— or the contract is terminated,” Ross says. “This can go on for a long time.”
- What does sale type standard mean?
A "Standard Sale" in Real Estate Terms is defined as the sale of a property that is owned by "an owner who has equity or value in the property above and beyond the amount they owe."
- What is the interest or value that an owner has in property over and above any indebtedness called?
EQUITY – That interest or value remaining in property after payment of all liens or other charges on the property. A owner's equity is normally the monetary interest over and above the mortgage indebtedness.
- How does an equity sale work?
An equity sale is a transaction structure for selling a business where current owners sell all of the outstanding shares or interests of the business to the buyer.
On a real estate page that has pending on it what does pending mean
|Does pending mean a house is sold?
|A pending sale in real estate simply means that the seller has received and accepted an offer on their home. However, the deal is not yet finalized — hence “pending” and not simply “sold.” If you're interested in a pending property, your agent should consult with the seller's agent to learn more about the status.
|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.
|Why would a house go from pending to active?
A real estate listing might go back to active from pending due to several reasons such as the buyer's financing falling through, inspection issues, or the buyer simply backing out of the deal.
- 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.
- What does contract pending mean in real estate?
Key Takeaways. “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.