What Does it Mean When a House is Pending?

What does it mean when a house is pending?

When first time homebuyers start searching homes for sale online, the homes show  different status, like active, pending, closed, etc.

These terms are often times confusing and not clear to first time homebuyers. One of the questions I usually get is what does it mean when a house states that is pending? a home becomes pending when a seller accepts an offer on their house and the due diligence is started.

This status, however does not mean the house is sold. A lot needs to happen before a house is closed: inspection, loan approval, appraisal, clear to close and then the house is officially closed and sold.

Click below to watch the full video:  

Lisbeth Rios 

Orlando real estate agent