When a home is marked as pending, it means the seller has accepted an offer, both parties have signed the contract, and all purchase agreement terms have been met. This is the final stage before closing, where ownership officially transfers, the purchase is finalized, and all necessary documents are signed.
However, pending does not mean sold—the deal is still in progress. In rare cases, a motivated buyer may submit an offer, but unless the seller is accepting backup offers and the current contract falls through, it’s unlikely to be considered.
Pending vs. Other Listing Statuses
As you browse Homes.com listings, you’ll notice different statuses indicating where a property stands in the selling process. Here’s how pending compares to other key statuses:
- Coming Soon: The home isn’t officially for sale yet but will be soon. During this stage, agents promote the listing, schedule open houses, and generate interest.
- For Sale: The home is actively on the market and available to buyers.
- Under Contract: The seller has accepted an offer, but certain conditions—like inspections or financing—still need to be satisfied before moving forward.
- Pending: All conditions have been met, and the home is on its way to closing. Some homes may go straight from “for sale” to “pending” if the seller accepts a strong offer.
Can a Pending Sale Fall Through?
While uncommon, pending home sales can fall through. According to the National Association of Realtors (NAR), about 5% of pending sales don’t make it to closing.
Real estate agent Scott Garnett of Samson Properties in Richmond, VA, explains:
“The two biggest deal-breakers are the inspection and appraisal. Occasionally, financing issues or buyer’s remorse can also derail a sale.”
Here are some of the most common reasons why a pending sale might fall through:
1. Home Inspection Issues
If an inspection uncovers major problems, the buyer may negotiate repairs or a lower price. If an agreement isn’t reached and a home inspection contingency is in place, the buyer can walk away and keep their earnest money.
2. Low Appraisal
If the home appraises for less than the agreed-upon price, the lender may require the buyer to cover the difference. Buyers with an appraisal contingency can renegotiate or back out.
3. Financing Problems
A deal won’t close if the buyer’s loan is denied. To avoid this, buyers should get pre-approved early and fully understand what they can afford.
4. Title Issues
Unresolved liens, ownership disputes, or title defects can delay or even prevent a sale. A title search and title insurance help safeguard against these risks.
5. Short Sale Complications
In short sales, the seller’s lender must approve the transaction. If the buyer doesn’t meet lender requirements, the sale may fall through.
6. Buyer’s Home Doesn’t Sell
Some buyers add a home sale contingency, meaning they can back out if their current home doesn’t sell within a set timeframe. Sellers should consider market conditions before accepting such contingencies.
7. Buyer’s Remorse
Sometimes, buyers rush into an offer, only to later regret it. Life changes or cold feet can cause them to back out, risking their earnest money deposit and potential legal consequences.
If a pending sale falls through, the home typically returns to the market. The seller may adjust the price, make necessary repairs, and re-market the property.
How Long Do Homes Stay in Pending Status?
Most homes remain pending for 30 to 60 days, but the timeline varies based on:
- The terms agreed upon by the buyer and seller
- The speed of the home inspection, appraisal, and mortgage approval
- Any unexpected delays in the closing process
Can You Make an Offer on a Pending Home?
Yes—but your chances of success depend on whether the seller accepts backup offers.
If the contract includes a kick-out clause, the seller can continue showing the home and consider new offers. If the current deal falls through, they might accept yours instead.
Tips for Submitting a Backup Offer:
- Stay in touch: Ask your real estate agent to monitor the listing and keep communication open with the seller’s agent.
- Strengthen your offer: Consider a competitive price, a faster closing timeline, or fewer contingencies to make your bid more appealing.
- Be ready to move quickly: If the original deal collapses, being prepared can give you a significant advantage.
Real estate agent Scott Garnett shares this strategy:
“If my client is interested in a pending home, I reach out to the listing agent and let them know we’re ready to submit an offer if anything changes.”
In the right situation, a strong backup offer could help you land the home of your dreams.
Final Thoughts
A pending status means a home is close to closing, but it’s not officially sold yet. While most deals go through, a small percentage can still fall apart. Understanding the real estate process and keeping an eye on pending listings can help buyers and sellers navigate the market more confidently.
Looking for more real estate insights? Stay tuned for more expert tips and updates!
Check out my website https://www.mcbridebrandon.com/ & https://mcbridejbrandon.com/ for more