What is the process if a backup offer is activated on a pending property?

Aug 27, 2024 ... When you see a property listed as "pending," it means that a buyer has made an offer on the house, and the seller has accepted it. However, the ... Oct 2, 2023 ... Pending means a property offer has been accepted and the contingencies met, but the sale hasn't been finalized yet. However, the deal hasn't been closed yet, and a property with a pending status can still return to the market. Once a home is pending, sellers cannot legally ... The Pending Home Sales Index (PHS), a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts. Mar 21, 2023 ... A house for sale that's pending means there is an accepted, binding contract, and all contingencies have been resolved. During this time, ... Jan 13, 2025 ... As we learned in our previous comparison, the Pending status of a property agreement means that the building is no longer listed in the market ... Jul 8, 2023 ... The main difference the seller is not interested in entertaining any backup offers and the home is no longer available to show. Sometimes we ... Mar 2, 2023 ... Showing another buyer got there ahead of you to sign a contract with the seller. Usually, the pending status means the contract terms have been ... For those of you wondering, “What does pending mean in real estate,” it basically means that the seller has accepted an offer from a buyer. They have agreed on ... Nov 14, 2023 ... Pending: A property is listed as pending when the seller has accepted an offer, and all contingencies have been met or waived, but the sale has ...