Pending
The seller has accepted an offer and the main conditions are cleared or waived. The sale is waiting to close and usually no longer takes new offers.
Also called: under contract, sale pending
Related terms
The seller has accepted an offer, but the deal still depends on conditions like an inspection, appraisal, or loan approval. Some contingent homes still take backup offers.
The final step of a sale, when documents are signed, money changes hands, the deed is recorded and the buyer gets ownership. In some states everyone signs at a table; in others signing and funding happen separately.
The signed contract between buyer and seller that sets the price, deadlines, contingencies and terms of a sale. Once both sides sign, the property is under contract.
A home whose sale has closed and ownership has transferred to the buyer. Sold prices are public in most states and are used as comps to price other homes.
A home that went under contract but returned to active status because the deal fell apart. It does not always mean something is wrong with the house; financing or the buyer's own sale may have failed.