The deal could have contingincies or it can be a clean deal just waiting for title and settlement.
Sale Pending is a term associated with a property that currently has an executed contract. This means, the buyer and seller have mutually agreed on the price and other terms involved in the sale of the home. There are normally contingencies associated with these agreements that need to be satisfied prior to the closing. Common contingencies can include: financing, inspection, deposits, insurance etc
An important factor is that unless the contengencies identified in the contract are met according to the outlined time line, the closing for the property may not happen.
That can vary from market to market. My experience is that it typically means that an offer has been made and accepted. That accepted offer (contract) will have lots of contingencies that will have to be satisfied before the sale in consumated.