{"id":19935,"date":"2019-05-02T14:34:46","date_gmt":"2019-05-02T14:34:46","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=19935"},"modified":"2019-05-02T14:34:46","modified_gmt":"2019-05-02T14:34:46","slug":"sale-pending-what-does-it-mean-should-you-make-an-offer","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/sale-pending-what-does-it-mean-should-you-make-an-offer\/","title":{"rendered":"Sale Pending: What Does it Mean &#038; Should You Make an Offer?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p class=\"p1\"><span class=\"s1\">In the ever complex world of <a href=\"https:\/\/www.barrycohenhomes.com\/\"><span class=\"s2\">Toronto real estate<\/span><\/a>, there is what people call a \u201csale pending.\u201d This refers to a stage wherein all contingencies in a transaction have all been removed. Moreover, the home buyer is also inching closer toward closing the deal. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">If you happen to be a home buyer who is eyeing a property that has a \u201cpending\u201d tag, don\u2019t take it off your list just yet. In case you find yourself in this predicament, here are some important things you need to be aware of.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">What \u201csubject to\u201d and \u201ccontingent upon\u201d mean<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">For you to get a better grasp of what \u201csale pending\u201d means, you must first know the difference between \u201csubject to\u201d and \u201ccontingent upon.\u201d First, a home buyer normally makes an offer that is subject to a property inspection. Sometimes, it can be a full loan approval or a bank appraisal. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">On the other hand, some home buyers make it contingent upon the sale of the house they are currently living in. In the event that they fail to secure financing or sell their property, they have the option to opt out of the contract.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">It may still be for sale<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Another important fact you need to know is that a property that has some contingency can be labeled by agents as \u201cactive with conditions.\u201d This means that the home seller is still open to entertaining offers from other interested buyers other than the one he is currently dealing with.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This is a situation wherein the seller cannot fully agree with the current buyer. The sale, therefore, cannot be considered a done deal. This means that you still have a chance to shoot a backup offer. Once negotiations with the original buyer completely fail, the seller can immediately look into your backup offer.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Sale pending means no more contingencies<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">For a real estate deal to be truly considered pending, it must have no more contingencies whatsoever. It means that the buyer is already a \u201clock\u201d in the purchase. Typically, real <a href=\"https:\/\/www.thehouseshop.com\/compare-estate-agents\" title=\"estate agents\">estate agents<\/a> will not put a \u201cpending\u201d label on a property until they reach this stage. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Now you may ask, can you, as a buyer walk away from the deal after the contingencies have been removed? The answer is yes, though it is very unlikely. The end result, in case you walk away, is that you will lose the earnest money you deposited early on.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Get to the bottom of the property\u2019s status<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Lastly, you need to know what the real status and condition of the house are. Did the buyer conduct any prior inspections? Were there any issues found? Get all the information you can get before making an offer. If you are searching for <a href=\"https:\/\/www.barrycohenhomes.com\/properties\/exclusive\"><span class=\"s2\">houses for sale in Toronto<\/span><\/a> contact a trusted real estate agent. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the ever complex world of Toronto real estate, there is what people call a \u201csale pending.\u201d This refers to a stage wherein all contingencies in a transaction have all been removed. Moreover, the home buyer is also inching closer<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/sale-pending-what-does-it-mean-should-you-make-an-offer\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":19591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[7],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2019\/03\/Capture-6.png","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/sale_pending__what_does_it_mean___should_you_make_an_offer_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/19935"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=19935"}],"version-history":[{"count":1,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/19935\/revisions"}],"predecessor-version":[{"id":19936,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/19935\/revisions\/19936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/19591"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=19935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=19935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=19935"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=19935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}