{"id":50222,"date":"2024-11-08T10:03:50","date_gmt":"2024-11-08T18:03:50","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=50222"},"modified":"2024-11-08T10:03:50","modified_gmt":"2024-11-08T18:03:50","slug":"buyer-what-does-pending-mean-in-real-estate","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/buyer-what-does-pending-mean-in-real-estate\/","title":{"rendered":"What Does Pending Mean in Real Estate?"},"content":{"rendered":"

You\u2019re browsing home listings, and your eyes land on a beautiful house in your price range. It\u2019s just what you\u2019ve been looking for. Then you notice it\u2019s labeled \u201cPending.\u201d But what does pending mean in real estate? Can you still make an offer?<\/p>\n

In this post, we\u2019ll explain this status tag and what it might mean to you as a potential buyer. We\u2019ll also share tips on how you can make a strong, non-contingent offer so you\u2019re not stuck in the pending zone.<\/p>\n

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What does pending mean in real estate?<\/h2>\n

In real estate, \u201cpending\u201d means a seller has accepted an offer, and the property is under contract<\/a>, but the sale hasn\u2019t yet closed. This status suggests the major terms have been agreed upon, and both parties are working toward a successful transaction. However, pending is not the same as \u201csold\u201d \u2014 the deal isn\u2019t final, so there\u2019s still a chance, however slim, that it could fall through.<\/p>\n

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Why might a home be listed as pending?<\/h2>\n

A home is marked as pending once an offer is accepted and both parties have agreed to the sale\u2019s terms<\/a>. This can mean that the buyer\u2019s financing is approved, the inspection contingency<\/a> is met, or any appraisal concerns are resolved. While the exact reasons can vary, a pending status generally indicates that the transaction is moving forward. (More on contingencies in a minute.)<\/p>\n

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How long can a home be in pending status?<\/h2>\n

The length of a pending status often varies but typically lasts around 30-60 days<\/a>, according to the National Association of Realtors. Factors like buyer financing, required repairs, or the need to finalize paperwork can impact this timeline. If everything goes smoothly, the sale could close faster. However, issues that arise might extend the pending period.<\/p>\n

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Can a buyer make an offer on a \u2018pending\u2019 house?<\/h2>\n

Most pending listings are off-limits for new offers, as the seller has already committed to a buyer. However, there can be exceptions. If you\u2019re particularly interested in a pending property, you can ask your agent to monitor its status or even submit a backup offer. This way, you\u2019ll be next in line if the current deal falls through.<\/p>\n

If the current buyer’s offer includes conditions, referred to as contingencies<\/a>, that they are unable to meet, this may open up a window of opportunity<\/a>.<\/p>\n

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Why might a pending house come back on the market?<\/h2>\n

There are several reasons why a pending sale may fall through, leading the home to reappear on the market. Here\u2019s a quick look at the most common causes:<\/p>\n