When you see the term „contract pending” associated with a house for sale, it means that the seller has accepted an offer from a buyer and the sale is in the process of being finalized. The house is no longer available for showings, and other potential buyers cannot make offers.

During the contract pending phase, both the buyer and seller are working through the necessary steps to close the sale. This can include inspections, appraisals, title searches, and financing. The timeline for these steps can vary depending on the terms of the agreement between the buyer and seller.

It`s important to note that a contract pending status does not guarantee that the sale will go through. There are several factors that could cause the sale to fall through, such as issues discovered during inspections or financing falling through. In some cases, the seller or buyer may choose to back out of the sale for personal reasons.

If you`re interested in a house that is listed as contract pending, it`s still worth keeping an eye on the status. If the sale falls through, the house may become available again. However, it`s important to respect the buying process and not interfere with the sale while it is pending.

In summary, a contract pending status means that a house is currently under contract and in the process of being sold. While it`s possible for the sale to fall through, the house is no longer available for showings or offers from other potential buyers. It`s important to respect the buying process and not interfere with the sale while it is pending.