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Barbara's Blog

Pending vs. Contingent

April 28th, 2021 11:24 AM by Barbara Doeringer

When you are looking for a new home to buy, you will often see on listing sites that they are marked as either pending or contingent.  So what is the difference and how do you know when a house is worth trying to pursue?

Contingent means that a seller has accepted an offer.  These listings are still active so they can still be viewed online but they could be out of contract if all the provisions are not met.  A closing does not happen until certain things are completed in a particular period of time.  

Here are some contingencies:

A home inspection contingency:   When an offer has been accepted, the buyer puts earnest money as a deposit on the home.  If the home inspection creates an issue that the buyers and sellers cannot agree on, then the contract is null and void.  

Mortgage contingency:  if the buyers cannot get approved for a loan to purchase the property, then the home must go back on the market.  

Appraisal contingency:  a home must appraise for enough value to have a lender approve the mortgage financing.  

Home sale contingency:  When a buyer already owns a home and needs to sell to use the proceeds to purchase another one.  

It is fairly common deals to fall apart because of contingencies.  

 When a home is pending, it means there is an agreement by contract and all contingencies have been dealt with.  The deal could still fall through at some stage either with financing or an inspection, but it is less likely than when in the contingency phase.  Some agents will accept “back-up” contracts just in case something like this happens, but once a contract is signed, the listing must be noted as pending.  

Contact us at Whippet Properties of Florida for any of your listing or buying needs!


Posted by Barbara Doeringer on April 28th, 2021 11:24 AM


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