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.
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.
Does sale pending mean the house is sold?
A pending sale status means the seller has accepted an offer from a hopeful buyer, but the deal hasn't closed yet. (This is different from a contingent sale.) A property is placed in pending status the minute a contract is executed.
Can you still make 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.
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.
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.