What is what does it mean when a house is pending on zillow?

When a house is listed as "pending" on Zillow (or other real estate websites), it means that the seller has accepted an offer from a buyer, but the sale is not yet final. There are still contingencies that need to be met before the deal is officially closed.

Here's a breakdown of what "pending" generally signifies:

• <a href="https://www.wikiwhat.page/kavramlar/Offer%20Accepted">Offer Accepted</a>: The seller has agreed to the terms presented in a buyer's offer.

• <a href="https://www.wikiwhat.page/kavramlar/Contingencies">Contingencies</a>: The deal is subject to certain conditions that must be satisfied. Common contingencies include:

  • <a href="https://www.wikiwhat.page/kavramlar/Home%20Inspection">Home Inspection</a>: The buyer has the right to have the property inspected and can back out or renegotiate if significant issues are found.
  • <a href="https://www.wikiwhat.page/kavramlar/Appraisal">Appraisal</a>: The lender needs to confirm that the property is worth the loan amount. If the appraisal comes in lower than the agreed-upon price, the buyer may need to renegotiate or the deal could fall through.
  • <a href="https://www.wikiwhat.page/kavramlar/Financing">Financing</a>: The buyer needs to secure a mortgage. If they are unable to get approved for a loan, they may be able to withdraw from the purchase agreement.
  • <a href="https://www.wikiwhat.page/kavramlar/Title%20Search">Title Search</a>: Ensures the seller has a clear title to the property.

• Still Potentially Available: While the house is technically under contract, there's still a chance the sale could fall through if the contingencies aren't met.

• Varying Stages: The "pending" status can have sub-categories (depending on the MLS or website), such as "pending - showing" (which means the seller is still allowing showings in case the first deal falls through) or "pending - no showing" (meaning no more showings are allowed).

• Not Sold Yet: It's important to remember that "pending" doesn't mean the house is sold. The sale is only complete after closing.