What is the difference between active and pending in real estate? (2024)

What is the difference between active and pending in real estate?

That is a great question. An active listing is a property that is available for sale for the details that are listing on the MLS by the listing agent. A pending listing is a property that has a contract on it and is moving through the financial process towards a closed sale.

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.

What does active status mean in real estate?

Active: An active status means that the property is available for sale. There are no accepted contracts on the property. Appointments can be set to view the property and make offers accordingly. There may be time restrictions on viewing; however, it is wide open for purchase.

How long are houses usually pending?

According to the National Association of Realtors®, homes are usually listed as pending for 30-60 days. Each pending home's timeline is different, but the timing could be affected by issues with things like mortgage approvals and home inspections.

What does active pending mean on realtor com?

“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.

Do pending sales ever fall through?

But even when all signs point to go, sometimes a home sale just never takes off. While a failed pending sale isn't common, it can happen, even in a thriving real estate market. Last year, existing-home sales totaled 6.12 million, an increase of 8.5% year over year. However, a number of purchases didn't pan out.

What percentage of pending sales fall through?

According to Trulia, over 96% of real estate contracts successfully close. In other words, less than 4% of contracts fall through for any reason.

Is pending the same as active contingent?

The difference is that contingent listings still need to meet one or more specific conditions before moving forward. With pending deals, conditions have been met, and both parties are planning to move forward to closing. As a buyer, you may be able to make a backup offer on a listing that's under contract.

What is the difference between active and pending?

Active with Offer indicates there is an accepted offer, but the seller still wants to show the property and seek secondary offers in case the buyer falls through. These listings will remain in Active searches. Pending indicates the seller has an accepted offer and showings are no longer occurring.

What is the difference between pending and active with contract?

Key Takeaways

“Under contract” means the seller has accepted an offer, but there are still conditions to clear before closing. “Active under contract” means the seller is welcoming backup offers. “Pending” means the home is under contract, and all conditions have been met for the deal to close.

Can you buy a house if it says pending?

The Bottom Line: Pending Purchases Aren't Final

But a pending sale is not the same thing as a final sale. The pending offer could still fall through, and there's a chance you could buy the home. If you're just starting out in your home buying journey, the best thing you can do is to start the approval process today.

What percentage of pending sales fall through 2023?

At what point do most house sales fall through?

Can I still look at a house that is contingent?

While it won't hurt to look at a house that's listed as contingent, and potentially even submit a backup offer if possible, you should be prepared for the original contract to go through to close. In the event that the sale falls through, having already looked at the house can put you in a better position to get it.

Why is everything on realtor 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.

Why is my listing pending?

Answer box: When a home sale is pending, it means that the sellers have accepted an offer from a buyer. The home sale will close once the buyers and sellers sign the paperwork that makes the sale official. Once a home is listed as pending, the odds are low that other buyers will get the chance to purchase it.

Is pending the same as sold?

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.

Can houses fall out of pending?

The most common reason a sale may be pending is that it has a mortgage contingency. This is a condition written in a real estate contract giving buyers a timeframe to secure a mortgage for the home. If the condition cannot be met by the deadline, then the sale can fall through.

Does pending mean no more offers?

Implications for Buyers: A pending status generally means the seller no longer accepts new offers. However, in some rare cases, it's not entirely out of the question. If the deal falls through, interested buyers should stay in touch with the listing agent. Communication should be made through your buyer's agent.

Can a seller accept another offer while contingent?

Contingent – With No Kick-Out Clause

This means the seller can't accept another buyer's offer unless the current buyer can't meet the conditions of their offer. This provision protects the current buyer because they can't be “kicked out” unless they don't meet the contingencies.

Can a seller back out after accepting an offer?

Bottom line. “Generally, a seller can't cancel without cause,” Schorr says. “You could build in some contingency, but absent that, you had better be committed to the sale.” Reneging because you fear you underpriced the house, or you actually receive a better offer, doesn't count as “cause.”

Why do houses stay contingent for so long?

A home sale contingency gives the buyer time to sell and settle on their existing home to finance the new one. This contingency protects buyers if their current home does not sell because the buyer can back out of the contract without legal repercussions.

Which is better pending or under contract?

“Under contract” indicates that an offer has been accepted and that both sides have to fulfill the conditions (contingencies) of the contract for the home purchase to take place. “Pending sale” implies that the necessary steps and contingencies have been addressed, bringing the transaction closer to completion.

What is more final pending or contingent?

While contingencies are conditions that must be met for the sale to go through, pending is used to identify a listing where all contingencies have been met and the transaction is nearing the closing process. This still does not mean that the sale is final. Things can still go wrong.

How often do contingent offers fall through?

Among contingent offers, less than five percent fall through, according to multiple sources. Broken offers may arise because the buyer isn't able to secure financing or because the seller isn't willing to lower their listing price after a low appraisal.