If you’ve been on the hunt for your dream home, chances are you’ve come across a listing that says “sale pending.” This may be disappointing for you if you haven’t been able to beat out other buyers, but don’t panic! This article will explore what does pending mean in real estate, as well as what you can do if you see your potential home listed this way.

What Does Pending Mean in Real Estate?

The term pending is used to indicate that an offer on a property has been accepted and that the buyer’s and seller’s contingencies have either been satisfied or waived. If all contingencies are removed, the contract is considered a “pending sale” and the process moves closer toward closing. Depending on the contract, it can take days or weeks for a home to move from pending status to closed. Read more https://www.creatingrealestatesolutions.com/we-buy-houses-villas-fl/

While a home’s status can change from active to pending, it can also be a sign that the seller is not interested in competing with other buyers. If you are interested in a home, it is best to work with your real estate agent and make an offer as soon as possible. This will give you the best chance of getting your offer accepted, especially if you are in a competitive market.

If a home’s status is changed to pending, it usually means that the contingencies that need to be removed have been removed or waived and that the buyer is closer to being approved for financing. However, the seller and buyer can still back out of the transaction if they are not able to agree on certain terms or if something unexpected comes up during the inspection or appraisal process.

The most common reason for a transaction to fall through is due to a change in a buyer’s financial situation. Another reason is if the home is in probate, which is a legal process that reviews the will of a deceased individual to determine how their assets should be distributed. A final reason is if the home is in foreclosure, which can be very difficult to overcome. The best way to find out more information about a property’s status is to speak with the listing agent directly, as they will have access to MLS updates and will be able to provide you with detailed and up-to-date information.