What does Sale Pending mean anyway?

Dated: 10/27/2019

Views: 71


When a new listing hits the market and it's listed on the MLS (Multiple Listing Service) it's in "Active" status.
Buyers then view the house, love it and then decide they want to make an offer. Once the offer gets accepted
and the buyer provides their deposit, then the property is pending. Pending what? Well, that all depends on the
offer and how it's written up. Most are pending while waiting for the home inpsection to be completed and others
are pending the signing of the P&S (Purchase and Sales) contract.
If the property is a short sale - then it's pending third party approval. If the buyer needs a mortgage? well, then its pending financing. By the way; Pending can also mean Contingent. 

What about Under Agreement?....we'll make a new blog for that!

Blog author image

Sharon Lucido

Both my Dad and my Father-in-law were Real Estate Brokers. From watching them, I learned that real estate is not just about buying and selling, it's an emotional process that should be handled with ho....

Latest Blog Posts

December 2019 ~ Bourne MA Market Update by Amanda Lucido

Happy New Year everyone! ?Here’s my Bourne Market Update.We are still showing signs of a healthy market, inventory is low which indicates that we are still in a sellers market. Beat out

Read More

Moving with Pets? We can help.

My humans put up a "for sale" sign on my dog house today, I mean their house. I'm confused by the number of people that are in my home looking at it. Every day the door opens and three or four

Read More

Home Inspection - Do you need one?

If your thinking about purchasing a home for thousands of dollars, then the price you pay for an inspector is worth every penny. "Money well spent" as my dad used to say.A home inspection is usually

Read More

List your home in the Winter? Yes or No

Below are three reasons why listing your home in the winter is a great time.1. Demand Is StrongBuyer demand remains strong. They are ready, willing, and able to purchase, and are in the market right

Read More