when a house is pending does that mean that the house is off limites to the rest of the potencial home buyers?

Asked by Mgd, 97113 Mon Jan 16, 2012

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Dave Sutton, Agent, Portland, OR
Mon Jan 16, 2012
"Pending" means that buyer and seller have agreed on the terms of a sale, pending the satisfactory resolution of all contingencies. The most common contingencies are appraisal, financing and inspection. Should any one of those contingencies not be satisfactorily resolved, the sale "fails" and the seller will be open to another offer. Whether the home can be shown, or whether back up offers will be acceptable, in the period between first going pending and closing is up to the seller. If you're interested have you agent check with the listing agent.

I once bought a home that was pending when I first learned of it. The buyer's agent said it was OK for us to see it. We loved it, so I told the buyer's agent to let me know if the first offer fell through. It did, he did, and we bought it. I am not the first nor the last buyer to have that happen.
1 vote
Allison James…, Agent, Portland, OR
Mon Jan 16, 2012
Hi - do you mean "off limits" as far as writing additional offers or in going to take a look at the home? Pending sales occasionally die for one reason or another so I do not generally discourage buyers from continuing to view or write back-up offers when it comes to my listings. Plus we are very low on inventory of available homes right now, so if you see a home you are interested in, but it's pending - you may want to submit a backup offer to get in position to be the first to be notified if the pending sale dies. That may save you from having so much competition. I'm getting multiple offers on properties and many are selling higher than list price right now. I have one property right now with 13 offers!

Once a pending sale has passed all inspections and the appraisal and they are on the road to final underwriting and closing - then it likely isn't going to die so listing agents will likely discourage any further showings.

Hope that answers your question. Have a great afternoon!

Kelly Gebler, Principal Broker
Cornerstone Group NW @ Keller Williams Realty
1 vote
The Stephen…, Agent, Portland, OR
Tue Jan 17, 2012
No. More pending deal then ever fall apart these days. If you are really interested in the property, make an offer.
0 votes
Lana Lavenba…, Agent, Grants Pass, OR
Mon Jan 16, 2012
It means you may have the ability to place an offer in back up position but dont get your hopes too high that the offer in first position will go away. They say it is never over until it is over, meaning the money has changed hands and the deed recorded - so dont just give up if it is a property of interest.
0 votes
Megan Bower, Agent, Largo, FL
Mon Jan 16, 2012
Check with your Realtor (or local Board) to find out exactly what this means. In our area, Pending means that a contract has been accepted and most of the contingencies satisfied. In other words, it will probably go through and the seller is not looking for backup offers.

If you see "Active with Contract" the seller is still interested in showing the property and the Realtor continues to market it. Perhaps there is not full confidence in the buyer or lender. There are still contingencies to be satisfied.

Hope this helps!
0 votes
Erica Ramus,…, Agent, Pottsville, PA
Mon Jan 16, 2012
In our area, yes, it is likely not going to be shown to other buyers unless the sale has a contingency where the seller can still show it and entertain offers.
0 votes
Jennifer Pet…, Agent, Portland, OR
Mon Jan 16, 2012
If it is truly pending, then the seller has entered into a written contract with a buyer. This does mean it is "off limits" for the most part. However, many homes end up back on the market for a variety of reasons. I watch pending homes that my clients liked and that way I am ready to take action with my buyer if the home does go back on the market.

Please feel free to call me if you have any additional questions or want me to look into a home for you. I would love to work with you to help you find the right home. I live and specialize on the west side.

Mandy Lewis
(503) 522-5803 cell
Real Estate Broker
Keller Williams Realty Professionals
0 votes
Patrick Fiel…, Agent, Plano, TX
Mon Jan 16, 2012
No, this does not mean it is off limits. Many sellers will prefer to have a back up offer in case the primary deal does not close for whatever reason. However, some sellers will restrict further showings of the home when they are confident that the sale will conclude.
0 votes
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