A house listing that reads pending means that is no longer active, and stops other potential buyers from making an offer to purchase. … During this time, the seller can still show their house, in the case the buyer backs out last minute.
What does pending Active mean in real estate?
All about active/pending
“Active” means a property is for sale, and the seller is seeking offers. “Pending” means the property is still technically for sale, but someone has made an offer. … It usually means the seller would like to get more offers, says Denise Shur, a Realtor® with 1:1 Realty in San Jose, CA.
What does pending to active means?
If a property goes from Pending to Active, this means the original contract fell through for some reason (Buyer terminated during Option Period, Buyer couldn’t obtain financing, Contingency fell through, etc.).
What is the difference between active and pending?
OPT Active Option Contract: Seller has accepted an offer but the Buyer is exercising the option period from the sales contract. … PND Pending: Property has an offer (Contract with no contingencies, Kick Outs or Options). The seller requests no further showings and does not want to entertain backup offers.
Can a realtor show a house that is pending?
Realtors can continue to show a house that is pending. … If this is the case, sellers will allow the Realtor or real estate agent to show the property during closing. Due to the many reasons a pending sale can fall through, it is not uncommon for sellers to continue to show the property.
What is the difference between for sale and active?
Most of the properties listed in the multiple listing service (MLS), the database where real estate agents list homes for sale, will have an active status. That’s because an active status means that the home is currently available for sale.
What mean active under contract?
“Active Under Contract” is a real estate term that indicates the status of real property (single family home, condo, townhome, etc.) that has been put up for sale wherein a seller has accepted an offer from a buyer, but the deal has not yet closed. This term is primarily used in the State of California.
Can a seller back out before closing?
Reasons a seller might walk away from a real estate contract before closing. To put it simply, a seller can back out at any point if contingencies outlined in the home purchase agreement are not met. … They can’t find another home to move into.
Do pending offers fall through?
A sale that is “under contract” means an agreement has been made between the seller and buyer, but the sale is still subject to contingencies. In a “pending sale,” contingencies have lapsed, and the deal is near closing. A pending sale can still fall through if there’s an issue with financing or the home inspection.
What does active mean in real estate?
Active. This means that a property is currently on the market and available for sale. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open for you to make a proposal.
What does active under contract mean on Realtor?
A: Active with Contract means the buyers has a contract to purchase on the property. The contract has a contigency so the seller can still look and accept other offers.
Does pending mean a house is sold?
A pending sale status means the seller has accepted an offer from a hopeful buyer, but the deal hasn’t closed yet. (This is different from a contingent sale.) A property is placed in pending status the minute a contract is executed.
Can you outbid a pending offer?
Do not try to outbid the current pending sale; as stated above, this is a no-win situation. Simply bid what you would have bid on the property anyway considering the home value, the location, and the botional tie that you may have to the house.
Can a buyer back out of a pending sale?
Unlike sellers, buyers can often back out of a contract fairly easily, reports U.S. News & World Report. For example, buyers who are new to the process may overestimate what they can afford or underestimate the timeline. They may use a contingency in the sale contract as a way to exit it.