Definition
A property listing status indicating the seller has accepted an offer and the transaction is proceeding toward closing. Pending properties are no longer available for new buyer offers.
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Pending properties are in the due diligence and closing phase and typically have met all contingencies or are near the end of the contingency period. Properties can revert to active status if the buyer's contingencies fail or the buyer terminates the contract. In competitive markets, pending status can change quickly to active if a deal falls through.
Pro Tip
Submit backup offers on pending properties. Your offer could become active if the primary deal fails.
Example
The home showed as pending on the MLS after the seller accepted the buyer's offer, indicating the transaction was moving toward closing.