Quick Answer: What Is Difference Between Contingent And Pending?

When a property is marked as contingent, an offer has been accepted by the seller.

Contingent deals are still active listings because they are liable to fall out of contract if requested provisions are not met.

If all goes well, contingent deals will advance to a pending state.

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.

What does it mean when a house is pending?

A pending sale status means the seller has accepted an offer from a hopeful buyer, but the deal hasn’t closed yet. (This is different from a contingent sale.) A property is placed in pending status the minute a contract is executed.

What is the difference between under contract and contingent?

Since Contingent is considered an Active status, it will continue to calculate Days on Market and will Expire on the Expiration Date of the Contract. Pending (Under Contract) means that the property is not being marketed or shown and is expected to close on the contract Closing Date.

What does it mean when a property is contingent?

What is a contingent offer in real estate? A contingent offer means that an offer on a new home has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met.