What Is a Pending Home?
A pending home means that the seller accepts an offer, but the deal hasn’t officially closed yet. A home or property will be in pending status once the contract is executed.
When this happens, the property isn’t defined anymore as an active listing. During this time, the listings are pulled on public sites such as Redfin, Trulia, and Zillow. When a deal is considering pending will depend on your location.
A home remains pending until the loan closes once the legal work is done. If your dream home is pending then don’t lose hope just yet.
Some sellers still allow offers to be made on the house, just in the case the deal falls through. You never know when a deal can fall through, especially if it involves a home loan for bad credit.
Reasons a Home Can No Longer Be Pending
Ther...