A contingent or pending status on a house listing indicates that aseller has accepted a buyer’s offer. The most significant difference between contingent and pending for a house hunter is this: a house that’s designated as contingent sits earlier on the home-purchase timeline than a house that’s pending.
People also ask
What is the difference between a pending and a contingent House?
The Difference Between A Pending And A Contingent House A property listed as contingent means the seller has accepted an offer, but they檝e chosen to keep the listing active in case certain contingencies aren met by the prospective buyer.
What is the difference between ontingent?and ?contingent?in real estate?
The difference between the two lies in where the listing is placed in the selling process: In real estate, ontingent?means the seller has accepted your offer with conditions, or criteria, that must be satisfied before the transaction can close. If you cannot fulfill the stipulations, the seller can cancel the contract.
What does pending mean in real estate?
What does pending mean in real estate? When a property is marked as pending, an offer has been accepted by the seller and all contingencies have been satisfactorily addressed or waived. Pending deals are no longer considered active listings. A home will remain in the pending state until all legal work has been processed.
When a contingent deal advances to a pending state?
If all goes well, contingent deals will advance to a pending state. What does pending mean in real estate? When a property is marked as pending, an offer has been accepted by the seller and all contingencies have been satisfactorily addressed or waived.