Quote:
Originally Posted by vintageogauge
I don't quite understand the differences between sold and pending, especially on new homes as they close very quickly also the difference between pending and contingent, would a home that is contingent be pending and why are so many homes pending? If the year to date pending homes become sold homes that is a ton of homes being sold.
|
A pending sale in real estate simply means that the seller has received and accepted an offer on their home. However, the deal is not yet finalized — hence “pending” and not simply “sold.”
Suspect custom built homes that are under contract but several months away from closing could be in this "pending" category?
Contingent means that an offer has been made and accepted, but before the deal is complete, some additional criteria must be met. I'm under the impression Villages does not agree to contingent contracts.