What 'Sale Pending' Really Means for Buyers
Sale pending means a home is under contract but not sold. Deals can fall through due to financing, repairs or paperwork, so backup offers might still be considered.
NEW YORK — When a home is listed for sale with the term “pending offer" or "sale pending," real estate professionals say there is often an accepted and binding contract between the buyer and seller, but the sale is not complete.
In order for a home sale contract to close, repairs, inspections, reports, contingencies and other elements need to be finalized. This is the point in the home buying process where having a real estate agent or broker is essential because they understand how to navigate this transaction process and what tasks must be completed for it to be finalized or closed.
When a home is listed as sale pending, there could be behind the scenes discussions about repairs or concessions, but the parties are working out the details. Homes can sit in pending status for weeks to months. Repairs can lead to pending status, but it generally means both the buyer and seller have agreed to certain repairs. Financing issues can have pending sales last up to 60 days or more if both parties agree to longer terms so financing can be secured by the buyer. Other issues that can cause pending status include missing paperwork or special loans, such as federal or local-led financing.
Pending home sales can come back on the market if the buyer loses financing or the seller faces title issues or a low appraisal. Pending sales can also go back on the market after home inspection reveals structural damages or a multitude of repairs. In general, pending offers last between a week to two months depending on the terms the buyer and seller agree to and how straightforward they are.
Buyers who find their dream home is pending sale can still make an offer, but those offers are unlikely to be accepted. A property listed as contingent or pending signifies the seller has accepted a bid and the home is under contract.
“On the other hand, if it’s a property you love, it doesn’t hurt to make an offer. If the buyer’s loan falls through or the seller refuses to agree on concessions, you might just jump to the top of the list once the contract is voided,” Realtor.com said.
Source: Realtor.com (04/22/25) Runkle, Larissa
© Copyright 2025 Smithbucklin