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define pending

Listings noting pending, does this mean an offer is pending or what does pending mean?
  • October 06 2012 - Kirkland
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Answers (7)

Hi there,
It means that the sellers have accepted an offer, but the transaction has not closed yet. The mutually accepted contract could be (and likely is) subject to other contingencies (i.e. Inspection, Financing, Title, etc.)...so while these items are being cleared as all parties work towards the closing date, the home is currently in a "pending" status. There are multiple types of "pending" as well. It could be "pending inspection", "pending feasibility", "pending short sale", and so on.

Hope that helps!
Ryan Halset | Real Estate Broker
5-Star Zillow Premier Agent in Kirkland, WA
  • October 06 2012
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Ryan
What does Pending - Continue to Show mean?
  • January 03 2014
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hi
It means that the sellers have accepted an offer,
  • February 15 2014
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Just means the home has an offer ;)  keep an eye on it though!
  • June 13 2014
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Pending means the home has an offer, however you can continue to watch the property until it is listed as closed or sold!
  • June 18 2014
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The pending is very broad term. In the case of the home listed for sale it means that the seller of the property has accepted the offer - the terms of the sale proposed by Buyer, and by accepting these terms, both finalized the contract for the purchase of property. At that point of time the listing  agent opens the escrow with the company that will be acting as a settlement and closing agent for the transaction.  The escrow can be opened with state licensed independent escrow company, title insurance company and an attorney. The escrow can take on average between 30-45 days, especially when the Buyer is obtaining a purchase financing. 
 Usually the sale is considered as a pending sale (listing) from the time the escrow has been opened to the time the escrow has been closed, and how it is reported to MLS by listing agent.
  • June 20 2014
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 In addition to my previous answer I would like to add that pending is a term for the status of the sale of listing and refers  to the period of time, usually 30 to 45 days for residential property, during which that sale takes a place.

  • July 03 2014
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