What does pending on a house mean Meaning and Definition

Pronunciation

/wɒt ˈdʌz ˈpɛndɪŋ ɒn ə ˈhaʊs/ 🔊

Part of Speech

Phrase

Definition

A status indicating that an offer has been made on a house, and the seller has accepted it, but the sale is not yet finalized, pending certain conditions such as inspection, appraisal, or financing.

Examples

• The house I wanted to buy is pending, so I’m keeping my fingers crossed.
• After making an offer on the property, our realtor told us that it was pending, but we were optimistic.

Synonyms

• Under contract
• Conditional sale

Antonyms

• For sale
• Available

Additional Information

When a house is pending, it means that the seller has accepted an offer from a buyer, but the sale is not yet complete. This can be a nerve-wracking time for both parties, as there are still several steps that need to be taken before the sale can be finalized. The pending status can last anywhere from a few days to several weeks, depending on the complexity of the sale and the speed at which the parties can complete the necessary tasks.

During this time, the buyer will typically conduct inspections and appraisals of the property, and secure financing for the purchase. The seller will also need to provide any necessary documentation and complete any repairs or other conditions that were agreed upon in the sale contract. Once all of these steps have been completed, the sale can be finalized, and the property will be transferred to the new owner.

It’s worth noting that a pending sale is not a guarantee that the sale will be completed. There are still many things that can go wrong, such as the buyer’s financing falling through or the seller deciding to back out of the sale. However, for most buyers and sellers, the pending status is a welcome milestone in the home buying process.

Etymology

The term “pending” comes from the Latin word “pendere,” which means “to hang.” In the context of real estate, the term refers to the fact that the sale is hanging in the balance, pending the completion of certain conditions.

Usage Notes

The term “pending” is commonly used in real estate to describe a sale that is in progress but not yet complete. It can also be used in other contexts, such as to describe a decision or action that is pending review or approval.

Cultural References

The term “pending” has been used in popular culture to describe a variety of situations, from a pending court case to a pending relationship. In the context of real estate, the term is often used in TV shows and movies to add drama and tension to the home buying process.

Idiomatic Expressions or Phrases

• Pending approval
• Pending review
• Pending further investigation

Related Words or Phrases

• Under contract
• Conditional sale
• Pending sale

Collocations

• Pending sale
• Pending approval
• Pending review

Frequency of Use

The term “pending” is commonly used in real estate and other contexts, but its frequency of use can vary depending on the situation. In general, the term is used more frequently in formal or professional settings, such as in business or government.

Common Misspellings

• Pendding
• Pendig
• Pendin