A pending sale in real estate means abuyer has submitted an offer that a seller has accepted,but the deal hasn quite closed yet. At the moment that a contract is agreed upon,then the house is placed into pending status.
People also ask
What does pending mean in real estate?
This article will explain what pending real estate is and why it doesn necessarily mean the sale is final. What Does It Mean When A House Is Pending? A pending sale means that a seller has accepted a successful bid from a buyer. This usually means the contingencies have been worked out, and the buyer is locked in on the sale.
Is it OK to buy a house that is pending sale?
The short answer: If a home you love is pending sale, don give up hope. You could still be the golden buyer. What does sale pending mean in real estate? A pending sale status means the seller has accepted an offer from a hopeful buyer, but the deal hasn closed yet. (This is different from a contingent sale.)
Is a pending sale the same as a final sale?
But a pending sale is not the same thing as a final sale. The pending offer could still fall through, and there a chance you could buy that home. If you檙e just starting the home buying process, the best thing you can do is to start the mortgage process today.
How long does it take to close on a pending sale?
A deal that truly pending is one in which the buyers have removed all contingencies. The buyer is 渓ocked in?to buying the home. The final step is to move toward closing, which can take anywhere from a few days to a few weeks.