What does pending P mean in real estate?
Homes are listed as pending because even though they are under contract, they haven't sold yet. There's always a chance the sale could fall through – for instance, if the buyer's financing was declined.
P (Pending) – The property is still under contract. The buyers are in the process of closing on the property. Title work, insurance, survey, HOA information, appraisal, finalizing financing are all being performed and completed during the pending status.
Active is when a property is available for sale (not under contract) and Pending (OP, P, PS) is when the property is under contract.
A pending status on a work item indicates that the work item is open but progress is paused or halted temporarily while the organization is waiting for information, a decision, a signature or other events outside organization control.
A pending sale in real estate simply means that the seller has received and accepted an offer on their home. However, the deal is not yet finalized — hence “pending” and not simply “sold.” If you're interested in a pending property, your agent should consult with the seller's agent to learn more about the status.
Pending: Indicates that the seller has accepted an offer on a property. The sale is being completed, but it has yet to close.
“Under contract” in real estate means that a seller accepts an offer from a buyer to purchase their home. However, the home isn't considered sold until all of the contingencies (if any) on the property are met.
Option Pending is in place during the Option Period. The option period is the time where the buyer has the option of canceling the contract for any reason. Pending is after the option period and the sale is in escrow.
Pending - Continue to Show
Property has an accepted offer with no kick-out but the seller and agent would like to continue to show the property. The status is pending, therefore, the Days on Market will no longer calculate and the property will not Expire on the listed Expiration Date.
All about active/pending
“Active” means a property is for sale, and the seller is seeking offers. “Pending” means the property is still technically for sale, but someone has made an offer. The transaction is considered pending until the buyer actually closes escrow.
Why would a house go from pending to active?
A real estate listing might go back to active from pending due to several reasons such as the buyer's financing falling through, inspection issues, or the buyer simply backing out of the deal.
Pending means, the candidate is either in the process of completing the interview or it has not begun. Expired means, that the candidate has reached the specified expiration date/time as per the requisition settings.
If the lender needs more time to review your financial information, it may take a few days or weeks to get an answer. If you don't receive an approval or denial right away, your application may be listed as “pending” or “under review” on the issuer website or app.
How long do pending transactions take? In general, it can take up to three business days for a pending transaction to clear. But that time frame can depend on the bank or credit card issuer, the payment network—like the Automated Clearing House (ACH)—and the type of transaction.
A charge can be pending on your account for up to five days. There are several factors that affect how long a pending charge will appear on your credit card. These include when you made the transaction and how long it takes the merchant to process it.
When a property is pending, it means the seller accepted a buyer's offer, and both parties agreed to a contract and met their shared requirements. A pending home is in the final stages of escrow and the closing process, which involves transferring property ownership, completing the purchase and signing final documents.
A financing contingency may not be the only reason a home sale is in pending status. There could also be an inspection or appraisal contingency, or there could be zoning and title issues with the property. “Sales can also fall through when a buyer changes their mind and backs out,” says Supplee.
A pending transaction on your bank account means that a transaction is underway but hasn't been fully processed yet. Perhaps a vendor has accepted your debit card as payment and is working with your bank to receive payment.
Pending Agents include members who've been invited but are yet to activate their accounts.
When a listing on Zillow - or any other real estate site - is pending, the property owner/seller has accepted an offer, but the closing hasn't happened yet. During the time between offer acceptance and closing, many steps must be taken, such as a title search, home inspection, home appraisal, and obtaining a mortgage.
How long can a house be contingent?
The contingent period usually lasts anywhere from 30 to 60 days. If you have a mortgage contingency, the buyer's due date is usually about a week before closing. Overall, a home stays in contingent status for the specified period or until the contingencies are met and the buyer closes on their new house.
Question: What does LP and SP mean in real estate? Answer: LP stands for “Listing Price,” the initial asking price set by a seller. SP stands for “Selling Price,” the final price at which a property is sold.
Homes under contract have an accepted offer, but there's still time to put in a competing one. Contingent home sales are on hold, but only for as long as it takes to meet stipulations. Pending homes are on their way to a final sale, barring any extraordinary circ*mstances.
When a home is active under contract it means that a buyer has made an offer on the home and the seller has accepted, but the sale is not yet final. When the transaction is complete, the status of the home will show that it has sold.
Homes are listed as pending because even though they are under contract, they haven't sold yet.
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