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What does a "Pending" listing means? Can I buy a "Pending" status property? Thank you.

  • February 09 2013 - Miami
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Answers (7)

Profile picture for ShaylaTwit
Pending means that there is a fully-executed contract between the seller and a buyer.  This means that no, they are not accepting backup contracts and have stopped showing the property.  If you see "Backups Needed" or "Active With Contract," there is still a fully-executed contract on the property but there are still contingencies to be met and the seller may possibly feel that it could fall apart and is therefore still showing the home.

I guess if you flipped the script and YOU were the buyer who had a Pending contract, you would would probably lean toward not wanting the home to have further showings since you were the one buying the property.

Hope this helps.  Good luck.  Shayla Twit, Sarasota FL Realtor  
  • February 11 2013
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Pending = both the buyer and seller have agreed upon a price and are both working to establish an executed contract, which involves meeting many different conditions.

Executory contract = when two parties have a meeting of the minds = pending.

Executed contract = closed and sold.
  • February 11 2013
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Pending status means the property is under contract but has not closed yet,  you can ask your agent to see if they will accept a back up offer. Does not hurt to have your agent ask, you may be surprised and find out that the deal may be falling apart, then they would welcome your offer.  Best of luck!

  • February 09 2013
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Profile picture for Ofe Polack
Pending means that the contingencies on the offer have not been met.  Such as Home Inspection, Letter of Commitment, Appraisal, etc The offer has been accepted and now buyer and seller wait for all contingencies to be met.
  • February 09 2013
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"Pending" means the seller has accepted an offer but has not yet gone to settlement. Unless and until it goes back to "Active", you cannot buy the listing.
  • February 09 2013
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Hello,
 Pending means the seller has accepted an offer and escrow has been opened.

You can have your agent ask if they will accept a BACK UP offer from you. A back up offer will be the secondary choice if for some reason the current deal does not go through.

Getting a back up offer accepted is the only way you can buy a home that is in pending status, and the only way you get a back offer accepted is if the current deal fails to close.

Best of Luck to you.

Kawain Payne, Realtor 
  • February 09 2013
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Profile picture for SoCal Engr
"Pending" usually means that the property has gone under contract (i.e., an offer has been accepted), but the transaction has not closed/completed.

You can probably still submit a back-up offer, as not all transactions move through to completion. However, if the pending transaction does fall through and your offer is accepted, be sure that the reason the transaction fell through is not on the seller's side (e.g., undisclosed items discovered during inspection, failure to appraise and seller won't compromise on asking, etc.).
  • February 09 2013
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