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What does it mean if a home is listed as "For Sale- Pending"? Is it under contract, accepting offers

  • October 11 2010 - Marshbrooke
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Answers (8)

When it's listed as "pending" it means the Sellers have accpeted an offer but that there are conditions on the offer (home inspection, mortgage contingency, appraisal) that have not yet been fully addressed. Typically as a Buyer Broker I do not encourage my buyers to spend time considering properties in this stage, though if they are intersted I will call the listing agent to see exactly what's going on and whether they feel that the sale may not go through for some reason. If they indicate that it might be a little questionable, I will advise my Buyers of this and if they wish to pursue it we can. Note that any offer made when it's Pending is a back up offer.
  • October 16 2010
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In this flooded with inventory market, the short answer is, don't waste your time on it.  Go for another property with no strings on it.
  • October 13 2010
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Profile picture for kisogo
Thanx for all your responses.

Appreciate the help!

Z
  • October 12 2010
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It means an offer has been accepted on that property.  If it were in a "backup" status, that means the seller has accepted an offer, but actively seeking backup offers in case the current one doesn't go through for whatever reason.  If you REALLY like the house anyway, have your agent check with the listing agent/seller to see how the current escrow is going, and to see if the seller would welcome another offer.  Best of luck, Caroline
  • October 11 2010
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When a property is deemed pending it means that it is under contract and all contingencies have been removed. It is never too late to submit a back up offer especially these days with the finacial regulations changing so often. However, I would also expect that a pending sale is weeks if not days from closing. Simply put pending means that the closing date and time is set and both parties to the transaction are ready to close

  • October 11 2010
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PENDING means that there is an accepted offer, and the Buyer has removed their contingencies.  A transaction typically moves from Active (on the market for sale) to Contingent (an offer has been accepted by the Seller, contingent on the Buyer obtaining financing to purchase and agreeing to the property's physical condition following inspections (sometimes waived), reports and Title Seach, to PENDING (contingencies have been removed) to SOLD.
  • October 11 2010
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A property market pending means that they have an accepted offer and are in escrow.  If you are still interested in the property then you should submit a back-up offer which would allow the seller to put pressure on the current buyer and force them to react quickly which they may not be comfortable with.  If the pressure is too much they might cancel which would allow the seller to move forward with your offer.  This is assuming your offer is better than the first buyer!
  • October 11 2010
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It means an offer has been accepted. You may want to check if the seller is accepting back up offers. If the first offer falls through then the back up offer would take first position.
  • October 11 2010
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