More accurately, 'Pending' means home has a signed contract but has not yet closed. Waiting on inspection,negotiating issues brought up by inspector, title insurance, and in (rare) cases, buyer waiting for mortgage approval. So home is likely to sell to another buyer, but contingencies may exist. If you're interested, you can discuss with selling agent and perhaps get in line to make offer in case first buyer falls through. Can't get house simply by outbidding existing buyer. The purchase agreement must fall through for a legal reason stated on contract (or buyer surrenders earnest/deposit money).