What does pending mean on the status of a mls home?

Asked by Rochelle Maree, 33908 Sun Feb 14, 2010

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Chad Roberts, Agent, Henderson, NV
Sun Feb 23, 2014
The pending status does mean that the property has an offer on it or it is under contract. There has been an agreement on the property between buyer and seller. What it means to you, if of interest, speak to your Realtor about submitting a backup offer. In the interim, continue to look for other desired properties.

Regards,
Chad Roberts
Broker/Salesperson
Realty One Group
1 vote
Vilma Sneed, Home Buyer, Beaverton, OR
Sun Feb 23, 2014
WHAT IS "PEN" MEAN ON THE STATUS OF MLS HOME
0 votes
Madelyn Buch…, Agent, Fort Myers, FL
Sun Feb 14, 2010
Thanks Fred
Checking with the Listing agent to see if they are taking back offer is a good idea.
In a Sellers Market it is worth putting in a back up offer, buyers can fall out due to financing and inventory is usually low.
In our Market in SW Florida there are new homes coming on the market daily, we have a steady supply of inventory. Foreclosure homes have brought back many of the investors almost all are Cash buyers it's very hard for a 1st time buyer so they must move on to other properties. Besides many buyer are trying to take advantage of the Tax incentives, they need to be under contract by April to get the credits.

Madelyn Buchanan
Selling Paradise Realty
239-707-0774
mjbrealty@comcast.net
0 votes
Fred Glick, Agent, Mountain View, CA
Sun Feb 14, 2010
Just to add my two cents.

Even if it is pending, contact your buyer agent to call the listing agent and see if they are taking a back up agreement in case it falls through.
Web Reference:  http://fredglick.com
0 votes
Madelyn Buch…, Agent, Fort Myers, FL
Sun Feb 14, 2010
Pending in a normal sale means- Buyer & Seller Agree to the Terms and Condition of the Sales Contract
In todays market there are 2 other forms of Pending
1- Active Contingent - Both parties agree to the terms - Most times Contingencies can be "financing" and or Inspection period. There can be other contingencies also. Once all Contingencies are meet the Listing Agent should place the property as "Pending" until closed.
2- Active Contingent Short Sale - Again the both parties agree to the terms of the Sale Contract - Price, inspection period, financing. The difference is that with Short Sales the Buyer & Seller may agree but due to the dificiancy the "Lender" must approve the Sale. Once Lender approves the sale the Buyer and Seller can move forward with the process. Short Sale can take time, many Lender are putting automated systems into place to fast track the process.

If you have any other Real Estate questions you would like to discuss please contact me at the number below.

Madelyn Buchanan
Selling Paradise Realty
239-707-0774
mjbrealty@comcast.net
0 votes
Mark Washburn, Agent, Cape Coral, FL
Sun Feb 14, 2010
Pending means that a property has an accepted offer on it. Here is a resource that is updated daily to view only "active" Fort Myers real estate listings: http://www.greaterftmyers.com/fort-myers.php

Good luck with your search!
0 votes
Bill Eckler, Agent, Venice, FL
Sun Feb 14, 2010
"Pending" simply means a buyer and seller have agree through a "purchase agreement" to the sale of a specified property. There may or may not be "contingencies" attached to this transaction ie. financing, inspection, sale of one party's property etc. that could impact the transaction's closing.

Some sellers will not accept opportunities to show property once it is in "pending" status and under contract.

Hope this is helpful.

The Eckler Team
0 votes
Ralph Windsc…, Agent, Hauppauge, NY
Sun Feb 14, 2010
That means the sale is pending or "under contract".
0 votes
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