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Sue, Home Buyer in Illinois

WHAT IS THE STATUS ON THIS HOME? WHAT DOES PENDING RELEASE MEAN?

Asked by Sue, Illinois Sun Dec 19, 2010

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This question is about this property: http://www.trulia.com/property/41064102-34898-N-Oakside-Ave-…

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Answers

2
Mike is right that the MLS status PENDING does mean it's under contract, all the contingencies have been met, and they're just waiting for closing. But in the MLS, that's abbreviated as PEND. So I'm wondering if that's what you're referring to. Where did you see or hear that phrase, pending release?

The status in the MLS of this listing is pending though. So it could very well be that's what it means in this case. This property has been under contract for a while though, since 9/22. It's a short sale, also, which means the offer is less than what would be needed to pay off the mortgage. So the bank is an interested third party and could counter the offer. If that happens, and the buyer declines, the home will probably come back on the market. If this is a home you are interested in buying, I can help you further. Drop me a line if you need anything else.

Jack Jentzen
Prudential Starck Realtors
Cell/Text: (224) 234-5276
0 votes Thank Flag Link Tue Dec 21, 2010
Pending means a contract's been accepted and it's just waiting to close. What are you looking for? Would you like to be notified if it comes back on the makret?

Mike Stodola
0 votes Thank Flag Link Sun Dec 19, 2010
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