What does Sale Pending mean?

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Sale pending is used when talking about the sale of a property. If the property has a sale pending, it means that the seller has an offer from a potential buyer and has almost closed the sale. When a property has the pending status it means that the buyer has made an offer, it’s been accepted and now the buyer has to handle the financial aspect of the deal.

 

During this pending stage, inspections are also carried out to make sure the property is safe and functioning properly. If the buyer can’t sort out the financing or the inspection fails, the deal may collapse and the property could go back on the market.

If something is pending, that means the process for making it happen has been started but it is not yet complete.

This is usually unnecessary for things that you buy on a regular basis, because they involve a simple process.

All you have to do is give someone money, or let them swipe your credit or debit card. However, something might be sale pending if it is a large purchase.

For these purchases, you might have to fill out extensive forms, register with the government, or something that costs time. As soon as you make it official that you will buy something, it is sale pending until the entire process is finalized.

This is commonly used if you are selling or buying a house, as it can take up to 60 days on average to file all the documents needed to transfer the ownership of a house. Other large purchases include real estate in general, a business, a car, or a very large amount of something.


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