What Does It Mean When A House Is Pending?
When a home has a pending offer, it means that a buyer has made an offer that the property's seller has accepted. The sellers and buyers are now just waiting to close the sale of the property, whether the buyer is making an all-cash offer or plans to finance the purchase of the home with a mortgage.
When a home is pending, you can no longer try to outbid another buyer for the property. Your chance to buy the home has most likely passed, unless the sale falls through, an unlikely but not impossible event.
Answer box: When a home sale is pending, it means that the sellers have accepted an offer from a buyer. The home sale will close once the buyers and sellers sign the paperwork that makes the sale official. Once a home is listed as pending, the odds are low that other buyers will get the chance to purchase it.
What Does 'Pending' Mean In Real Estate? - Zing! Blog by Quicken Loans
Read More
No comments:
Post a Comment