Steve, Home Buyer in

this house says sale pending , what does that mean, does that mean the house is sold ?

Asked by Steve, Sun Jan 18, 2009

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Hi Steve:

Sale Pending means that the Sellers have accepted an offer on the home, and now it is going through the various events that have to take place, according to their contract - appraisal, inspection, clear title and most importantly and most difficult in this current environment, buyer's mortgage approval. Once all these procedures and conditions are met, within the set timelines of the contract, they'll be able to close. It is not out of the question for the property go return back to the market - I looked it up and it has been under Pending Sale twice before. I hope for the sake of the participants in the deal, that this goes smoothly but I'd be happy to watch it for you, in case it comes back to Active Sale status.

It is a super price and doesn't seem to be a foreclosed property or a short sale.

If you'd like me to help in any way, by watching this property or looking for something similar for you, feel free to contact me.

Best wishes,

Villa G Realty, Inc.
Web Reference:
1 vote Thank Flag Link Sun Jan 18, 2009
Angela Schrager
Yes we did sign a contract with the buyer. The buyers Loan is approved. He is FHA Approved for loan.
Hopefully will go through! This is the second week that showing the house is pending sale! And yes I will ask my realtor to see where we at.
Thank you for your quick respond!
0 votes Thank Flag Link Tue Aug 30, 2011
Hello Sam: If your house is pending sale - you will have signed an offer contract from a buyer. Now, the offer is submitted to your mortgage lender along with the short sale paperwork and supporting documentation that you will have provided for your lender to evaluate the sale and your situation.

This could take anything from 45 days to several months. It depends, not only on the mortgage lending bank, but on the negotiator who has been assigned to the file - there is no hard and fast rule on short sales unfortunately. They're supposed to be moving quicker but it's still luck of the draw. You can still get ready to move, regardless. That's entirely up to you. If it works for you, you can move out when you like.

Do you have a Realtor handling this? Definitely discuss this with your Realtor and/or the individual who is negotiating the sale on your behalf. It could be different in California than in Florida. Good luck to you and I hope it goes smoothly with a good result!

Villa G Realty, Inc.
Tel: 954-816-7996
Web Reference:
0 votes Thank Flag Link Tue Aug 30, 2011
Angela Schrager
My house is Sale pending also, we are selling it as a short sale! But the question now, How long will it take to go through! How long does it take to go into escrow? do we get ready to move or we have to wait? I live in Corona, California
0 votes Thank Flag Link Tue Aug 30, 2011
what does this maen changing limit
0 votes Thank Flag Link Mon Jan 18, 2010
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