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What does pendig mean on house for sale

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Understanding "Pending" in a House for Sale Listing: A Comprehensive Guide

When searching for a house for sale, you may come across the term "pending" in listing descriptions. This guide aims to provide a clear understanding of what "pending" means and its implications for potential buyers. By the end, you'll be able to confidently navigate real estate listings and make informed decisions.

I. Definition and Meaning:

  1. "Pending" signifies that an offer has been made on a house, and the seller has accepted it.
  2. It indicates that the sale is in progress, but it has not yet reached its final stage of completion.

II. Positive Aspects of "Pending" in House for Sale Listings:

  1. Increased Certainty: When a listing is marked as pending, it generally means that the negotiations and due diligence have been successfully completed, providing reassurance to the buyer.
  2. Time-Saving: Pending listings save potential buyers from wasting time on properties that already have accepted offers.
  3. Competitive Advantage: If you're a seller, a pending status can attract other potential buyers who may submit backup offers in case the current deal falls through.

III. Benefits of Understanding "Pending":

  1. Focused Search: By filtering search results to exclude

Hey there, homeowner extraordinaire! 🏡 Are you feeling a bit confused about all the real estate jargon that's been thrown at you during the sale of your house? Don't worry, we've got your back! Today, we're here to explain what "pending" means on the sale of a house. So grab a cup of coffee, sit back, and let's dive right into the wonderful world of pending sales!

Picture this: you've finally found your dream home, and it's time to bid farewell to your current humble abode. You've gone through the process of listing your house on the market, met with potential buyers, and suddenly, you receive the magical news that your house is "pending." But what does that actually mean? 🤔

Well, dear homeowner, when a real estate agent says that your house is pending, it simply means that an offer has been accepted by the seller. It's like receiving a golden ticket to the chocolate factory, but instead, it's a ticket to the land of potential home ownership!

Now, you might be wondering, "Does this mean my house is sold?" Not quite yet! While the pending status is a reason to celebrate, it doesn't guarantee that the sale will go through

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.


How long does a pending transaction take for a house?

How long does it take for a house to go from pending to sold? In other words, how long does this crazy limbo period usually last? “There's no hard or fast answer, but typically if a buyer is getting a loan, the total under contract time is about 30 to 60 days,” George explains.

Is it better to be under contract or pending?

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.


What is the difference between pending and closing?

When a home is listed as “pending,” it means that there is a closing date set and that all contingencies have been met or waived. At this time, the lender and the escrow company are busy working with the loan and title documents to be sure that everything will be ready by the closing date.

How long should pending take?

How long do pending transactions take? In general, it can take up to three business days for a pending transaction to clear. But that time frame can depend on the bank or credit card issuer, the payment network—like the Automated Clearing House (ACH)—and the type of transaction.

Is it better to be contingent or pending?

A contingent listing is less likely to end up sold than a pending listing because of these conditions. If the purchase contract contingencies can't be met, then the buyer or seller can terminate the contract without penalty.

Frequently Asked Questions

What is difference between pending and contingent?

The difference is that contingent listings still need to meet one or more specific conditions before moving forward. With pending deals, conditions have been met, and both parties are planning to move forward to closing.

Why would a house be pending for so long?

A status of pending usually means that the buyer has passed all the requirements necessary and are just waiting to close. If the seller or their agent feels that the current buyer may pull out or not be able to close, then they may allow continued showings and even a backup offer.

Can you put an offer on a house that is contingent?

If you're interested in a property that's listed with an active contingent status, you may still be able to make an offer. While the initial offer will take precedence if all the contingencies are satisfied, making an offer can put you at the head of the line if the original deal falls through.

Does sale pending mean the 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.

FAQ

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.

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.

Why would a sale 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 is the meaning of sale pending in real estate

Apr 4, 2023 — A pending sale means that a seller has accepted a buyer's offer. Unlike a contingent status, which means the seller has accepted an offer but 

What does pendig mean on house for sale

Why does sale pending take so long?

Why pending offers can take longer. There are a lot of mundane reasons a pending offer can just sit in limbo for months on end. Those include things like inspections, or a delay with the survey, appraisal, or even the homeowner insurance. Here are a few other issues to be aware of.

What causes a pending sale to fall through?

Deals can fall through for any number of reasons. An inspection may reveal something unacceptable about the home, or the buyer's mortgage application may be denied. In some cases, a title search may turn up legal issues with the home, or an appraisal may come back significantly lower than the agreed upon sale price.

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.

What does it mean when a property 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 you buy a house if it says pending?
    • The Bottom Line: Pending Purchases Aren't Final

      But a pending sale is not the same thing as a final sale. The pending offer could still fall through, and there's a chance you could buy the home. If you're just starting out in your home buying journey, the best thing you can do is to start the approval process today.

  • Why would a house sale be pending for so long?
    • A status of pending usually means that the buyer has passed all the requirements necessary and are just waiting to close. If the seller or their agent feels that the current buyer may pull out or not be able to close, then they may allow continued showings and even a backup offer.

  • What is a contingent sale on a house
    • A Contingent: Short-Sale status indicates that the home is no longer for sale due to an accepted offer, but the short sale is still in process. 5. Contingent: 

  • What is contingent house for sale
    • Contingent means “depending on certain circumstances.” In real estate, when a house is listed as contingent, it means that an offer has been made and accepted, 

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