When you are in the process of buying or selling a home, you may come across the term “pending under agreement.” This term is used to describe a specific stage in the home sale process. If you are unsure about what this term means, we`ve got you covered.

In simple terms, “pending under agreement” means that a buyer has made an offer on a home and the seller has accepted it. However, there are still a few things that need to happen before the sale is finalized. During this time, the home is considered “pending under agreement.”

During this stage, the buyer and seller will typically work together to complete the necessary steps to finalize the sale. This can include things like a home inspection, a title search, and any necessary repairs or renovations. During this time, the buyer may have the option to back out of the sale if any issues are found during the inspection or if the seller is unable to meet certain conditions of the sale.

It`s important to note that “pending under agreement” is not the same as “sold.” The sale is not considered final until all necessary steps have been completed, and the paperwork has been signed by both parties. Until that time, the home is still considered “pending under agreement.”

As a buyer or seller, it`s important to understand the various stages of the home sale process, including what it means when a home is “pending under agreement.” If you have any questions or concerns about this stage, it`s always a good idea to speak with your real estate agent or attorney.

In summary, “pending under agreement” means that a buyer has made an offer on a home and the seller has accepted it, but the sale is not yet final. Both parties must complete certain steps before the sale can be completed, and during this time, the home is considered “pending under agreement.”