What Does Sale Pending Mean on a Car?

February 15, 2024

If you've ever done a little browsing on real estate listings, then chances are you've come across the phrase "sale pending." This isn't one of those slang terms that you should gloss over or take lightly, as it can actually mean a lot in real estate.

The implication of a sale being pending means that it's a close to closing deal. It is at this point that buyers are going to have to work out their financing, carry out home inspections and other due diligence tasks before the property can legally transfer ownership to the buyer.

It's also during the pending period that the buyer can still opt out of the sale if they can't get their financing or discover any major issues with the property in the home inspection. While this is rare, it does happen. Luckily for the seller, most buyers will have some skin in the game in the form of an earnest money deposit, so they'll likely lose only this initial payment.

A home can stay pending for anywhere from a week to a couple months, depending on how long it takes the buyer and seller to meet their respective contingencies. This may seem inconvenient if you're looking for a home right now, but it can give you an idea of how serious the buyer is about their purchase and gives you time to find another home if necessary. For this reason, it's a good idea to work with your RealtorĀ® on penciling in a kick-out clause for you if the buyer does decide to pull out of the deal for any reason.

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