I think P has been explained pretty well. You may also see PB. That is pending but taking backups. This is another option the home can be listed as while it is under contract. This can be chosen over pure pending for many reasons no reasons at all. The agent may not feel the offer is very solid for some reason or they just want to allow for the opportunity for a backup contract.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
OP Option Pending - Listings that are under contract and the seller and buyer have agreed to use the â€œTermination Optionâ€ in paragraph 23 of the standard TREC contract, effective 1/1/03.
PS Pending - continue to Show Used for listings that are currently under contract but are still available to show.
P Pending - Used for listings that are under contact and are no longer available to show.
Please let us know if we can help you in any way. For more info, please see the link below.
"Pending" is a universal real estate term that is associated with property that was/is offered for sale but that has a written and accepted contract. This offer may or may not have contingencies that need to be satisfied prior to closing and may or may not be continued to be viewed by the public. This would depend on the specific terms of the agreement.
Hope this is helpful.