Long Island Home Buyer Asks: What Does Pending Mean"

By
Real Estate Agent with The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803

When you search for a home or condo on Long Island, you may see homes that say Active and also ones that say Pending.

 

"Active" means the property is available for sale. (sometimes even though it says active, there may be an accepted offer or negotiations taking place, but the Agent has not supplied that information yet).  It will continue to stay Active until there is an accepted offer and both sides of the transaction signs the paperwork.

 

"Pending" means that once the offer is accepted, home inspection was completed,  buyer signed and gave their attorney the deposit, and seller signed the Contracts, the property is now "Pending" and Under Full Contract.

 

At this point, the listing is taken off of the multiple listing service as available and is now Pending.

 

Only the Listing Agent knows the details of the deal such as price, contingency if any, and approximate closing date. No other agent or the public will know the agreed upon price until the listing is Sold.

 

Pending should indicate that you missed the opportunity (although sometimes a deal falls through).  In any event, if you see "Pending" on Long Island, you should start looking for another property to make an offer on.

 

So, "ACTIVE" means it's available, "PENDING" means it's Under Contract and "SOLD"  means it has closed!

 

Happy Long Island Home Buying!

 

Helping buyers understand Long Island Real Estate is one of the many reasons to work with Lawrence "Larry" and Sheila Agranoff.

 

We look forward to hearing from you!

 

Lawrence & Sheila Agranoff

 

Cell: 631-805-4400

 

Search Her For Long Island Homes and Condos

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Lawrence "Larry" & Sheila Agranoff are more than just Real Estate Agents. To attain the designation of REALTORS®, we have proven to be more knowledgeable & experienced, above and beyond the average requirements. Being part of the network referred to as REALTORS®, you can be sure we will cater to your Real Estate needs with superior professional practices.

 

 

 
 
If your home is listed with another broker, this is not a solicitation of property. This does not suggest broker has property currently available. Reproduction of text/images contained herein without the express written consent of the authors is strictly prohibited.Sale May Be Subject To Term & Conditions of An Offering Plan.Disclaimer: While information is believed to be accurate it is represented subject to errors, omissions, changes or reliance on information & must be verified by prospective consumer. The authors disclaim liability for any damages/losses, direct or indirect resulting from anything contained herein or the accuracy of comments or opinions of visitors.​©2008-2020
 
 

 

 

 

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Rainmaker
5,332,562
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 (sheila) if potential clients want to know what pending means, they should deal with you and they'll know first-hand!!

May 01, 2020 04:14 AM #1
Rainmaker
3,448,965
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

We have something similar, Sheila and Larry... except we say under contract/show (while home is in due diligence period) and under contract/no show (meaning it's out of due diligence waiting to close). In reality, most sellers won't show once they have a good contract. And I agree, most home buyers don't understand terminology like this include the word pending. What really confuses buyers in our market is that when a property is under contract/show... it's typically listed in the big real estate portals as active... so buyers call about homes and I have explain to them it's not really active anymore or it it's showing under contract/show that the sellers have chosen not to show.

May 01, 2020 05:02 AM #2
Rainmaker
3,622,390
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Sheila and Larry - it seems definitions of all kinds are subject to interpretation but it's good for prospective Long Island buyers/sellers to understand the proper real estate terminology.  

May 01, 2020 05:46 AM #3
Rainmaker
1,559,146
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Good overview of the possible statuses in your area. We have active, under contract (2 kinds), pending. It's a great idea to share the meaning with potential buyers and sellers.

May 01, 2020 05:47 AM #4
Rainmaker
3,333,287
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Barbara, Larry and I look forward to working with new and past clients for their Long Island Real Estate goals!

Nina, Pending (which used to be Under Contract here) there are no more shows. That's when home inspection has been done, and both parties have signed.

Michael, Our MLS recently changed their site and many agents are trying to understand the different terminology.

Kat, So what is the difference between Under Contract and Pending in your area?

May 01, 2020 06:44 AM #5
Rainmaker
5,774,719
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is good information to share with home sellers and home buyers.

Have a great day and a very special weekend.

May 01, 2020 08:03 AM #6
Rainmaker
914,355
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Great information for buyers to know when looking for a Long Island home, if they don't want to miss something they need your help.

May 01, 2020 08:25 AM #7
Rainmaker
2,884,452
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

When I have said "under contract" sometimes prospective buyers will ask what that means.

May 01, 2020 08:29 AM #8
Rainmaker
3,333,287
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Roy, We like working with our Long Island home buyers and sellers! 

Nick, Larry and I are ready to help Long Island consumers with their Real Estate goals!

Brian, Exactly. Consumers need to be educated on Real Estate terms in their area.

May 02, 2020 03:59 AM #9
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Rainmaker
3,333,287

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