Home Buying in 94066>Question Details

Jennifer, Home Buyer in San Bruno, CA

what does status pending show mean?

Asked by Jennifer, San Bruno, CA Sun Oct 23, 2011

what does status pending show mean?

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Answers

6
Hi Jennifer,
I must agree with Chris from Burlingame, please see the definitions below.
Status Abbreviation Definition;

Active (A) Valid listing contract exists and no offer accepted.

Pending with Release, continue to show (PR) Accepted offer on the property – a release, “escape” or “kick-out” clause exists in a purchase contract that allows one party to withdraw under certain circumstances. This status may also be used to indicate the property is a Short Sale with an accepted offer.

Pending without Release, continue to show (PS) Accepted offer on the property, still showing to prospective buyers for offers in back-up position to the first accepted offer.

Pending Do Not Show (PN) Accepted offer on the property. No additional showings to solicit buyers.

Sold (S) The Final Sale has occurred.

With about 30% of the ratified offers falling out of contract please don't hesitate to put an offer on this property if it's something worth waiting for. In the Backup possession you can still shop the Market but remember to cancel your first contract before writing a second one!

Always the Best,
Michael Kaprielian
Web Reference: http://www.MKaprielian.com
4 votes Thank Flag Link Sun Oct 23, 2011
Pending status is normally used for traditional sales after the seller accept the offer and for short sales after have been approved by the bank.

Best of Luck,

Maria Cipollone

Century 21 Tenace

http://www.Flahomesepcialist.com
3 votes Thank Flag Link Sat Nov 10, 2012
In most cases, it means the property is Under Contract, but there are contigencies placed on the contract...like inspections, tests, loan approval, etc. Each contract is different.
0 votes Thank Flag Link Sun Oct 23, 2011
It means that there is a ratified contract in place but buyer has contingencies that have not been removed. Agents are encouraged to continue to show the property.
0 votes Thank Flag Link Sun Oct 23, 2011
Jennifer,

Although sometimes agents/brokers post pending status when contingencies remain, strictly speaking it means that an offer was accepted and all contingencies have been removed. In this case it is unlikely that this property will become available again because under normal circumstances the buyers would lose their deposit if they didn't close the deal.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Sun Oct 23, 2011
It means they have a contract, have opened escrow, and are not taking back up offers.
Web Reference: http://www.laura4homes.com
0 votes Thank Flag Link Sun Oct 23, 2011
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