What are the drawbacks of submitting a backup offer on a pending property?

A pending listing isn't a guarantee that closing will happen. An experienced real estate agent can work with you to increase the odds of a successful real ... Jun 8, 2022 ... That's what I thought too... that "pending" means that the home has "passed" inspection, appraisal, and financing and the only thing that would ... The term pending house means the buyer and seller have agreed to each other's terms and all contingencies have been met so it's been marked as pending and is ... Option Pending means somebody made an offer and the seller and buyer have agreed on the terms. Everyone has signed it, and the contract has been escrowed at the ... Apr 12, 2022 ... 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. A property is considered pending after the owner has accepted an offer from a buyer. ... What Does Off-Market Mean in Real Estate? In a hot market with limited ... Sep 25, 2023 ... What Does "Sale Pending" Mean? ... When a property is marked as "Sale Pending," it indicates that the seller has accepted an offer from a buyer, ... Both mean the property is expected to be sold, but they have different implications for buyers, sellers, and real estate agents. Sep 13, 2023 ... Under contract comes right after a buyer's offer is accepted, while pending sale is the last stage before finalizing a deal. While contracts can ... Sep 30, 2023 ... When a home sale has a status of pending, it means that either the seller has accepted the buyer's offer without contingencies and they have ...