pending meaning real estate
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Sales Pending Vs. Under Contract Business owners buy real estate for a variety of reasons. As an owner, you may opt to purchase the office building housing your company. You may purchase your company's warehouse or distribution facility and lease it back to the company. When searching for properties to buy, you must be cognizant of those that are still listed for sale but say sale pending -- this means that a piece of real estate is under contract.
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"What does ""option pending"" mean on a real estate listing?" What does option pending mean on a real estate listing? I've been looking for houses on the internet, and came across several listings that said option pending. Does it mean there's an offer on the house and it's pending approval? 2 following.
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- What is pending mean? if some one say the renovation is pending due to the weather, Update: I like to know if it is started already and stoped because of the weather or it hasn't start because of the weather.
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"What does ""option pending"" mean on a real estate listing?" Best Answer: the seller is hoping to snag another potential buyer in case the tenant backs out. This guy has a tenant that he rented to with the option to buy. The seller listed it for sale online, but is being honest and telling you his tenant is thinking about buying it.
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Sales Pending Vs. Under Contract Sales Pending Vs. Under Contract. Business owners buy real estate for a variety of reasons. As an owner, you may opt to purchase the office building housing your company. You may purchase your company's warehouse or distribution facility and lease it back to the company.
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- Catt pointed out that alfalfa has about 220,000 seeds per pound compared to about 3,000 for soybeans and 1,300 for corn. At a 12-pound seeding rate, alfalfa has the potential of 72 plants per square foot, he said.
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Real property In English common law, real property, real estate, realty, or immovable property is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things.
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what does it mean when the status of the house is pending? is that mean the house is not for sale anymore? answer by Rosa Burk | Visit My Website | Contact Me. When a home is in Pending status means that it is off the market, and in the process of being purchased. If you really care for the property, be in the look up, occasionally the transaction fell through.
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- When a property is marked as pending, an offer has been accepted by the seller and all contingencies have been satisfactorily addressed or waived. Pending deals are no longer considered active listings. A home will remain in the pending state until all legal work has been processed.
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Search Legal Terms and Definitions (lease pen-dense) n. Latin for a suit pending, a written notice that a lawsuit has been filed which concerns the title to real property or some interest in that real property. The lis pendens (or notice of pending action) is filed with the clerk of the court, certified that it has been filed, and then recorded with the County Recorder.
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What Do All Those Real Estate Listing Terms Really Mean? That doesn't mean that it's a done deal by any means, however (more on that next). Contingent A contingent status means that the seller has accepted an offer and the home is under contract. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the deal can close.
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- When a house is for sale and is in pending status, a contract has been offered to a seller. When a contract is accepted and executed, it goes into an option period and then pending.f you see a home of interest on the street and there is a pending sign on it, do not be discouraged. By law, listings can show up until the day of an actual closing on a home. Real estate yard signs will remain in the front yard and can therefore be shown to all interested parties. Research Homes Online.
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What does pending taking backup &active contigent mean in real estate? Best Answer: Pending means that there is an accepted contract on the house and they are waiting to close. Taking back-up means that there is a contract on the property that has been accepted, but they will negotiate back-up offers in case the contract that is currently on the home falls apart. Active means that the home is actively on the market. Contingent means that there is a contract on the propert subject to something else taking place in order for it to close i.e. the buyer may have a home to sell first, they might just be waiting for financing,etc. Honestly, you have a lot of questions and should be working with an agent.
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"What does ""pending"" mean in real estate?" A home that is set to close and all contingencies have been waived. This is when the lender, the escrow agent or attorney will process the loan and title documents to make sure the deal will close on time. Sometimes, the sellers may still accept backup offers on pending listings, but it's best to contact to your agent to find out if it's possible to submit this type of offer.
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What Does a Real Estate-Owned Foreclosure Mean? When you see a property identified as a real estate owned foreclosure, it means first of all that the lender has taken the house back from a borrower who failed to make the payments. That's the foreclosure. The real estate owned part means the lender hasn't been able to find a buyer for the house. When a borrower quits making payments on a home loan, the lender will move to seize the home through foreclosure. The specific procedures and timelines for foreclosures vary according to state and local laws, which provide for waiting periods and appeals.
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What is 'Real Property' What is 'Real Property'. Real property, also referred to as real estate, realty or immovable property, is any property attached directly to land as well as the land itself. It is any subset of land that has been improved through legal human actions. Real properties include buildings, ponds, canals, roads and machinery, among other things.
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Active Status? Pending Status? Active – Valid listing contract exists and no offer has been accepted. Pending with release, continue to show (PR) or (Pend w/Rls) – Accepted offer on the property, and a release, “escape” or “kick-out” clause exists in a purchase contract that allows one party to withdraw under certain circumstances.
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What Does Sale Pending Mean? Don't Give Up on Your Dream Home Make sure your agent knows how in love you are with the home. You’ll want to be first in line in case any issues crop up with the pending sale. “Remember: Until the ink dries on the contract, no transaction is legally binding,” Malin says.
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"what is the difference between ""pending"" and ""Option Pending""?" Option Pending means that the transaction is still within the Option Period. During the Option Period, the buyer has the right to terminate the contract for any reason. During this period, the buyer usually has inspections done on the house and negotiates repairs (if any) for items noted on the inspection report.
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Sale pending? · just now. 1  Sale pending means that there is a transaction that is going through Escrow but that has not closed yet. 2  Sale pending can mean anything from an offer being accepted or contracts signed. 3  It means the buyer and seller have agreed on a contract, but closing has not happened yet.
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- This may be a big mistake. An attempt to shed some light on the Contingent status of a home…. Most real estate listings will have a “Status”. Example statuses include: 1  Active. 2  Subject to Inspection (STI). 3  Contingent. 4  Pending. 5  Sold.
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Option Pending vs Pending continue to show This is usually 7-14 days. The seller has no right to terminate the contract during this period...only the buyer. PS-Pending Continue to Show means it is under contract but the seller is still allowing showings for back-up. It does not mean that the contract is any less solid than a property listed as 'Pending'. P-Pending is under contract but not encouraging back-up showings. Usually the choice of 'P' over 'PS' has more to do with the listing agent's SOP than with the property itself. Many foreclosure agents simply mark the property as 'P' when it's under contract.
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"What does ""pending"" mean in real estate?" Definition of Pending. A home that is set to close and all contingencies have been waived. This is when the lender, the escrow agent or attorney will process the loan and title documents to make sure the deal will close on time. Sometimes, the sellers may still accept backup offers on pending listings, but it's best to contact to your agent to find out if it's possible to submit this type of offer.
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Sales Pending Vs. Under Contract Real estate contracts typically contain contingencies that allow a buyer to back out of the deal for cause.. For example, a buyer may discover structural defects, water issues or termite problems during the inspection period in the contract.
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What does active contingent mean? Active-contingent as a property status means that the property has a contract in place and is contingent on a term to be completed before it will close. The term can be approval from a third party, getting a mortgage, et cetera.n most cases it means there is a buyer who has a contract to purchase the house but it is contingent on something. The majority of contingincies are buyers selling a home to purchase the new property. Your agent can ask the listing agent what the contingincy is before viewing the property.
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What Does a Pending Status on a House Mean? Brokers must report when the status of a home for sale changes. Real estate brokers must accurately report the status of a property listing to the multiple listing service, usually spoken of as MLS. Brokers rely heavily on the MLS to market listings and find interested buyers. As a member of an MLS, a listing broker must comply with certain rules and regulations. One such rule involves specifying the status of a home as pending when the seller has entered into an agreement with a buyer.