Question: What Does Option Pending Mean In Real Estate?

“Option Pending” means there has been accepted offer on a home and it is under contract in its “option period”.

The option period is a time a buyer will conduct inspections and can change their minds about the home purchase without forfeiting their earnest money.

What is the difference between option pending and pending?

Pending means they are out of the Option Period to back out of the Contract due to repairs. It means if there where any problems the seller and the buyer have work thru them and Pending is the last stage before they close. I hope this helps. Option Pending means that the transaction is still within the Option Period.

Can you put an offer on a house that is pending?

Can you still make an offer that the seller may like more? Typically, the listing agent is no longer accepting offers once the property is listed as pending sale, so you won’t be able to place your bid. But real estate deals can fall through for a variety of reasons, so a pending sale isn’t a done deal.

Why is my option pending?

Option Pending means that the Seller has accepted the Buyer’s offer, but the Buyer is still under the option period, which is a unilateral contract, during which only 1 party is obligated to perform- the Seller, and the Buyer has unrestricted right to back out of the contract.

What does it mean when a house is under contract option pending?

It means a buyer has submitted an offer that has been accepted by the Seller. The Buyer is now in the “option period”. Meaning the Buyer still has the option of backing out of the purchase. If they decide not to back out by the end of the option period the contract would be pending.

Can you show a house that is pending?

Realtors can continue to show a house that is pending. As I mentioned above, a pending sale is not final and therefore sellers may be interested in courting back up offers. If this is the case sellers will allow the Realtor or real estate agent to continue to show the property during closing.

What is pending continue to show?

Pending means that the seller does not want to show the property to any other buyers at all. Pending continue to show means that the seller is moving forward with the current buyer in good faith. However, the property will continue to show through the listing agent.

Why are houses pending for so long?

Reasons why pending offers can take longer

Those include things like inspections, or a delay with the survey, appraisal, or even the homeowner insurance. Here are a few other issues to be aware of.

Do pending houses ever fall through?

The sale typically can’t go through until any liens or title issues are resolved, and this can be time-consuming. A buyer may decide they don’t want to wait and let the pending sale fall through.

Does pending mean sold?

Pending simply means that a buyer submitted an offer and the seller accepted. This means that the home is basically sold, but the deed and title haven’t passed on yet. The buyer will need to cancel the sale first before the seller can consider your offer.

What does Har mean in real estate?

Texas real estate professionals (HARMLS subscribers) have real-time access to agent-only MLS information.