What Does Pending Mean On Realtor


What Does Pending Mean On Realtor – Posted by Jeff Knox on Tuesday, April 17, 2018 at 11:31 pm By Jeff Knox / April 17, 2018 Comment

Texas real estate status can be a confusing thing at times, especially if you don’t use these terms often. Some of the most confusing terms: Active Option Contract; Kick out; contingent; Support; and, Pending (to name just a few). Some of these status statuses mean you can still buy the home. Unfortunately, other terms mean that the house is no longer available. By the way, these terms come from the MLS (Multiple Listing Service) which is the platform used to display these listings. Each MLS is owned by the localREALTOR® Association.

What Does Pending Mean On Realtor

What Does Pending Mean On Realtor

In this article, I will break down the definitions of property status in plain language, so that the next time you see “Active Option Contract” as the status for a property you find online, you will know what this means you as a consumer.

Contingent Vs. Pending Offers: What’s The Difference?

Any property in Texas that shows “active” on the MLS means that it is currently available for purchase. In most areas, if an active property receives and accepts an offer, the listing agent must change the active status within 72 hours of accepting the offer. However, most REALTORS® change status more quickly in favor of other agents and potential buyers. There is nothing more frustrating than scheduling a property, meeting a client at a property, wanting to write an offer on the property only to find out that the seller accepted an offer two days ago. The point is, if you see a property on the MLS with an active status, you can almost bet that the home is still available. If you’re shopping for your home online, look for that “active” status.

Active Option Contract – this is a term we get asked about almost every day. Active option status on a Texas Real Estate contract means that the seller has accepted an offer on their property; the property is already under contract; and, the buyer is within the “option period.” The option period is the time during which the buyer can legally back out of the home purchase, and the buyer’s earnest money is returned. It’s good to remember that as long as a buyer is in Texas during the option period, the buyer can terminate the contract for any reason. This means that the buyer does not have to give specific reasons for withdrawing from the contract during the option period. Check out our blog post on the four things you need to know about buying a home in Texas for more on the option period and which section is inside the contract.

The good news about the Active Option Contract’s MLS status is that the home is definitely not for sale. You may have a chance at this property. The bad news, however, is that someone beats you on the property and you have to wait to see what that buyer decides about the house – move forward or cancel the contract.

Conditional status in Texas Real Estate means that a buyer has entered into a contract with a property that has been accepted by the seller, and the buyer’s purchase is contingent upon the sale of the buyer’s current home. The reason the word “Active” is used in the conditional status is because the property is still being actively marketed because the buyer’s contingency to sell their current home may not be met as stated in the contract. Therefore, the house can fall into conditional status and become active again once the contingency is not met.

What Does ‘pending’ Mean? A Realtor Defines The 10 Terms That Trip Up Homebuyers The Most

There are two types of contingent status in Texas Real Estate: Contingent with Kick Out and Contingent without Kick Out. So what is the difference between these two contingency statuses?

Contingent with this Kickout status means that the seller is willing to kick out the current contract if presented with a better offer. So, if you see this status and you’re interested in that particular home, write the best offer you can while knowing you’re competing with other buyers. Although you will likely have to increase your offer price and adjust the contract to be most favorable to the seller, you still have the option to buy the home. However, in most cases there will be a clause where the first buyer has the opportunity to waive their contingency status and purchase the home without the contingency of selling their current home. But, in your favor, most “first time buyers” are not financially able to waive their contingencies and close on the property without relieving themselves of their current mortgage.

Contingent without Kick-off clearly means the opposite of Contingent with Kick-off. In this case, the seller has no right to accept another offer or force the hand of the current buyer. Not many contingency contracts will be drafted to exclude a kick-out option or clause for the seller. The kick-out option is in the deal to allow the seller to sell their home as soon as possible, as the basis of a contingency contract means that the seller must wait for another home to sell their home. Unfortunately, if the current contingency contract doesn’t include a kick-out clause, you’ll have to wait and see before you can make an offer on the home.

What Does Pending Mean On Realtor

Pending status means that all contingencies have been satisfied and the home is just awaiting closing. To get to pending status, you make the offer, the option period, and any other contingencies such as selling another home, getting a mortgage or financing approval, or doing home renovations. Once a home reaches pending status, no other buyer can purchase this home unless the deal breaks before closing.

Can I Still Buy That House? Contingent, Pending, & Under Contract In Real Estate

Jeff Knox is the Broker Owner of Knox & Associates REALTORS® in DFW and the creator of much of the content on. Jeff’s real estate articles and opinions have been featured on sites such as Realtor.com,

Jeff was first licensed in 2004 and has held his Texas Realtor license since 2009. Jeff and his team of REALTORS® work throughout the DFW Metroplex to assist buyers and sellers with condos, townhomes and single- family property. Jeff can be contacted directly at [email protected]

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What Does Pending Mean On Realtor

If you’re looking for a home online, you’ll likely notice that not all listings simply say, “For Sale.” Some may say, “Pending,” while others may say, “Condition.” Others may provide more details, such as “condition, continue to show” or “pending, taking backup.” These phrases indicate that the home is in some stage of the sales process.

What Does Bom Mean In Real Estate?

Knowing the differences between conditional and pending offers can help you spot properties you can still buy. It can tell you the best way if you are interested in bidding on one of them.

A condition means that the home seller has accepted an offer—one that comes with one or more contingencies or conditions that must be met before the sale can go through. The list is still technically active until the contingency is met. The status changes to pending when the offer is accepted, and all that’s left is the final paperwork and closing.

There are different types of conditional and pending status. Each represents a different level of opportunity for prospective buyers.

Many of these phrases overlap, and different real estate groups and multiple listing services (MLS) differ in the exact phrase they use. But anything that says “continue to show,” “release,” or “take a backup” usually means it’s there

What Does Sale Pending Mean?

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