What does pending mean

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Darby Grimmett
Diamond
9 years ago

Hi Gina,

Here is the general break down for each status:

The different pending options are as follows:

OP: Option Pending - The sellers have accepted a contract. This period is the time the buyers continue their due diligence and complete inspections. The buyer pays for this option period and in return has the unrestricted right to terminate at any time for any reason. Any repair amendments should also take place within this period. I watch properties very closely in the opt...

Hi Gina,

Here is the general break down for each status:

The different pending options are as follows:

OP: Option Pending - The sellers have accepted a contract. This period is the time the buyers continue their due diligence and complete inspections. The buyer pays for this option period and in return has the unrestricted right to terminate at any time for any reason. Any repair amendments should also take place within this period. I watch properties very closely in the option period.. sometimes you see them go back active pretty quickly due to buyer change of heart.

PS: Pending continue to Show - For reasons determined by the seller, they have continued to show the home although a contract has been accepted and through the option period. Sellers may choose to keep showing the home if there is a contingency or while waiting for final financing approval as determined in the Third Party Financing Addendum.

P: Pending - Option period complete, contract is waiting to close. No showings will be allowed through CSS.

I'd be happy to check on a specific property you want more information on. Feel free to send it my way!

Darby Grimmett
Keller Williams
 Email 
936-827-9217

Sajit Vartak
Silver
9 years ago
The Pending period starts after the OptionPending period ends, where the buyer has the right to back out. In the pending period sometimes the buyers mortgage process is still going on and the seller might still show the house to other buyer/s for any back up offer/s.

Elizabeth Edds
Bronze
10 years ago
"PENDING" means that the property has an executed contract in title, which has moved past the negotiated termination option period. It also means that the seller is not looking for "back-up" offers on the property. Seller is relatively confident the contract he has will indeed close soon.
Kevan Pewitt
Silver
10 years ago

This is a quick summary of the different Houston MLS listing statuses: A or Active Status is for available listings that are accepting offers and are not under contract. OP or Option Pending Status is for homes that are under contract and the buyer is in the Termination Option Period. PS or Pending Continue to Show Status is for homes that are under contract, but available to be shown for backup contract offers. P or Pending Status is for homes that are under contract and not available to be sh...

This is a quick summary of the different Houston MLS listing statuses: A or Active Status is for available listings that are accepting offers and are not under contract. OP or Option Pending Status is for homes that are under contract and the buyer is in the Termination Option Period. PS or Pending Continue to Show Status is for homes that are under contract, but available to be shown for backup contract offers. P or Pending Status is for homes that are under contract and not available to be shown. S or Sold status is for homes that have sold and closed and are no longer available. W or Withdrawn Status is for homes that are still in a listing contract, but are not longer available or temporarily unavailable for sale. X or Expired Status is for listings that did not sell during the listing period and are no longer available for sale.

source:
http://houstonprimerealty.com/
Karen Sherrill
White Gold
10 years ago
"Pending" means that the home is under contract and has gone through its option period. The option period is usually about 7 - 10 days right after the contract is signed and is when inspections are done and a buyer can terminate the contract for any reason. Pending means it has already gone through inspections and it is heading further down the process towards closing. For a potential buyer this means the home isn't available.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.

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