what is a pending offer on a house
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? A pending status means there has been an offer accepted on the home and the buyer is in the process of working with a lender to finance the property. An option pending status means the buyer is in the proces of having the home inspected and can still change their mind on purchasing the home.
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What does pending mean? When a property is marked as contingent, an offer has been accepted by the seller. Contingent deals are still active listings because they are liable to fall out of contract if requested provisions are not met. If all goes well, contingent deals will advance to a pending state.
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- Pending - Short Sale. The accepted offer is a short sale and must be approved by additional lenders or banks outside of the buyer or seller’s control, which may take a long period of time to process. Pending - More Than 4 Months. The accepted offer has been pending for more than four months.
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Pending order Pending order is set (placed) for the position opening. It represents a request for a currency pair purchase/sale as soon as the pair reaches a current (market) rate (the value, mentioned in the order). There are four types of pending orders: Buy limit – to buy when the ask price gets equal to the specified value. Herewith, the current price is higher than the value of the set order. Typically, the orders of this type are set in reliance on the assumption that the instrument price, having declined to a certain level, will stop its fall and start to grow.
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? Hi Grace, Pending can be up to interpretation. For the most part, it means that all te stipulations and contingencies have been met and the property is on track for a successful close. To save yourseelf time and frustrations, watch for the active or available properties. All the best!
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What does pending taking backup &active contigent mean in real estate? Best Answer: Pending means that there is an accepted contract on the house and they are waiting to close. Taking back-up means that there is a contract on the property that has been accepted, but they will negotiate back-up offers in case the contract that is currently on the home falls apart. Active means that the home is actively on the market. Contingent means that there is a contract on the propert subject to something else taking place in order for it to close i.e. the buyer may have a home to sell first, they might just be waiting for financing,etc. Honestly, you have a lot of questions and should be working with an agent.
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? Pending indicates that there is a contract on the house, and that the buyers are in the process of getting their loan -- this process generally takes 3-4 weeks once the offer is accepted. Let me know if I can assist you by using the Contact Me link.
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Under Contract: âContingentâ vs. âPendingâ “Contingent” means it can be shown. “Pending” means it cannot be shown, although there may still be contingencies. Contingent : Contingent status indicates that a property under contract is subject to an additional contingency or condition, i.e. “Contingent Sales Addendum”, Due Diligence Period, etc.
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What Does Active Short Sale Contingent Mean? The accepted short sale offer is simply contingent on the bank's approval. Because this status confuses MLS users, some listing database services changed their procedures to allow another status for these types of short sales; they are now better defined as pending short lender approval..
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- Why Pending Home Sales Go Bad. 1  Buyer's Remorse. 2  Home Inspections. 3  Low Appraisals.  Pay the difference in 1  cash. Order another appraisal from a new appraiser.  Supply the underwriter with comparable sales supporting the sales price, hoping to change the appraised 1  value. Give the seller a second mortgage for the difference.
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What is a pending transaction? What is a pending transaction? A pending transaction is an approved debit or credit transaction that has not yet posted to your account. The pending amount is deducted from your available credit but is not yet reflected in your posting transactions.
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- When a property is showing OP, P, or PS, this means that the property has a contract on it. OP or Option Pending is the first stage of the contract, normally this is a 7 to 10 day period where the buyers do their inspections on the property and do any negotiations if need be.
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- I put in an offer on the home and they cashed my earnest money check 2.5 months ago. The home is still listed as active on the mls. The offer has a proposed closing date of July 31. I have not heard anything back from the sellers bank on acceptance/denial of the offer.
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- Active/Pending = Usually that means the seller would like to get more offers. Savvy agents want back-up offers in place. If you made an offer to purchase a property and the seller agreed to the price, but already has a buyer in contract, you would be the 1st position back-up buyer.
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- You (the Buyer) write an offer on a house. The offer includes an 8-day option period for $150 (negotiable!). Your Buyers Agent delivers the offer and a photocopy of your personal check for the option period (made out for $150 to the Sellers) to the Listing Agent, who reviews the offer with her client.
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Sale pending? Sale pending means that there is a transaction that is going through Escrow but that has not closed yet. Translation it is too late to put in an offer now. If it falls out of escrow and the seller decides if he wants to put it back on the market then you can put in your offer.
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Active Status? Pending Status? Active – Valid listing contract exists and no offer has been accepted. Pending with release, continue to show (PR) or (Pend w/Rls) – Accepted offer on the property, and a release, “escape” or “kick-out” clause exists in a purchase contract that allows one party to withdraw under certain circumstances.
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What Does a Pending Status on a House Mean? A broker must report a pending sale as closed to the MLS when the ownership transfers to the buyer. A closed deal must be reported within 72 hours of a transfer of title, excluding weekends and holidays.
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"What does ""option pending"" mean on a real estate listing?" What does option pending mean on a real estate listing? I've been looking for houses on the internet, and came across several listings that said option pending. Does it mean there's an offer on the house and it's pending approval? 2 following.
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- For Sale: Properties which are available for showings and purchase. Active Contingent: Properties which are available for showing but are under contract with another buyer. Pending: Properties which are under contract with a buyer and are no longer available for showings. Sold: Properties on which the sale has closed. Contingent and Pending statuses may not be available for all listings.
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? answer by Rosa Burk | Visit My Website | Contact Me. When a home is in Pending status means that it is off the market, and in the process of being purchased. If you really care for the property, be in the look up, occasionally the transaction fell through.ending indicates that there is a contract on the house, and that the buyers are in the process of getting their loan -- this process generally takes 3-4 weeks once the offer is accepted. Let me know if I can assist you by using the Contact Me link. K.
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"What does ""contingent"" mean when looking at listings? I have seen a few houses with that statement and wonder if they are still available." Definition of Active Contingent. Active contingent is when a home seller has received an offer from a buyer, but the buyer needs to meet certain conditions before the sale can be finalized. These conditions may include a home inspection or getting approval on a mortgage loan.
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What is pending mean? Best Answer: Pending means waiting or on hold. If renovation is pending due to weather - it means the renovation is on hold till the weather is conducive for work.
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- Ramon, You bet you can especially if it's a short sale or foreclosure as they tend to be rocky until the end. Remember, until a home has closed you can place an offer it may be in vain but if you really want that home go for it. Visit my website and if I can help please contact me,
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Option Pending vs Pending continue to show When you enter into a contract with a buyer / seller the agents put the property into option pending for 10 days so the buyer can get inspections done. After the 10 day has passed it goes into PS pending continue to show. waiting on financing. I am always here for your questions feel free to give me call.
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Bump Clause Bump Clause. A Bump Clause is a term in a real estate contract that allows an accepted offer to purchase a home to be bumped by another buyer if certain terms are not met. Most frequently, bump clauses are used on offers where the buyer’s offer is contingent on selling another home.