On the other hand, we may discover that the contract is heading to closing in the next few days, and you would be better off focusing your energy and emotions on a different home.
In a hot market, pending sales usually go through to closing. A resident of the Asheville area since , Scott has been an active real estate broker since He and his wife Lisa have also been active real estate investors since Scott and Lisa founded Freestone Properties in Scott is an avid fly fisherman, and the name "Freestone Properties" comes from the freestone mountain streams for which Western North Carolina is famous.
When not listing real estate, selling real estate, or writing about real estate, Scott is trying to keep up with his two sons on their bikes, enjoying a day on the river, or trying to knock the rust off of his tennis game.
Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Zillow calls this listing Contingent. This field is for validation purposes and should be left unchanged. Financing falls through : not surprisingly, financing is an important part of successfully buying a home. Homebuyers may have second thoughts about the home, moving, or the condition of the home itself.
Low appraisal: Low appraisal issues sometimes happen when bidding wars raise a home price way above market level prices. A sale can be pending based on contingency. When a buyer requests a contingency and the seller accepts, it is a contingent sale. A common contingency is that the buyer needs to sell their existing home, before the current sale will go through.
The offer is contingent on their old home selling. They can choose between single family homes, townhouses, condominiums, multi-family homes or even commercial properties. Or search for available properties for rent. The search engine can be custom tailored to include a specific price range, search area, number of bedrooms, baths, finished square feet, etc.
The list of search parameters is extensive. The home is under contract and all contingencies have been removed that is, the requirements met. That puts this term at about step 7, above.
Or, they may use different terms altogether. When in doubt, ask your real estate agent or reach out to the listing agent. Either will be happy to set you straight.
Sale pending : maybe not. It is still technically possible for the sale to fall apart. Under contract : definitely. This is because at this stage, the deal can easily fall through.
Until all the closing paperwork is signed and dated, the house could still be yours.
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