Answers (2)
- Brian North, "BrianCNorth"
- Contributions:33
As it relates to the value of your home, not much. It is an indicator of what MIGHT come to be a good or bad comparable property, but in the Arizona Multiple Listing Service (MLS), the Pending price of a property as shown on the MLS is not necessarily reflective of the contract price.
Once the property shows as Closed or Sold, then you have a legitimate comparable.
Brian C North
Once the property shows as Closed or Sold, then you have a legitimate comparable.
Brian C North
- Robert Dandi, "BobRealEstate"
- Contributions:122
0Pending means a contract between the buyer and seller has been executed and they are awaiting settlement. Whether or not the contract gets fully consummated into an actual exchange of the property for what the buyer is offering depends upon contingencies that may or may not be in the contract such as inspection and/or financing (mortgage related) contingencies. In this market there are times when because of contingencies or out and out default on either the buyer's or seller's part occur releasing the property back onto the market as a for sale listing again.
whats pending mean?
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