Sellers are bound once the sale is pending Once all contingencies are settled (or if there are no contingencies in the first place), the home sale is pending. The seller can't back out of the sale, unless the buyer fails to meet a contractual obligation (such as if their deposit fails...
Buying a home is a process that involves multiple steps after the buyer and seller have entered into a contract. This is why a property will be pending even after an offer has been accepted. During this pending phase, a third party intermediary, known as an escrow company, is responsible f...
A lawsuit must be pending before the notice can be filed and served. A lis pendens can be drafted and filed by anyone with an interest in a property, but because the language must be specific and it is a complex document, it is best to hire a real estate attorney in your area to pr...
The authenticity of a will is determined through a legal process known asprobate. Probate is the first step taken in administering the estate of a deceased person and distributing assets to the beneficiaries. When an individual dies, the custodian of the will must take the will to the probate ...
Your home’s market value is determined by a real estate appraiser, who is typically hired when your lender is deciding how much money to provide in a loan or you are setting the list price when putting your home on the market. Assessed value takes the market value and...
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See here for a comprehensive explanation ofwhat pending indicates in real estate.When homes have gone pending, contingency removal has occured. The sale is nearing its conclusion. How Frequently Do Contingent Offers Fail? Thetime it takes to close on a homevaries considerably across the country, ...
Learn what it means to be in a buyer’s market vs. a seller’s market and what real estate trends to look for according to Redfin chief economist, Daryl Fairweather. Buyer’s and Seller’s Markets Explained What is a Buyer's Market?
Two other common MLS listing statuses arecontingentandpending. They are the opposite of an expired listing in that the seller has found a buyer. How to Get Voided Listings Some real estate agents will make it a practice to look over listings that expire daily. One of the ways to acquire ...