What does it mean if the house I put an offer on is listed as ‘contingent’, ‘under contract’ or ‘pending’?
Realtors will change the listing status throughout the process to indicate to other potential buyers which stage the home is in. If a deal falls through, it is easier to update the listing status than to relist the home.
Contingent: the seller accepted an offer, but the sale is conditional on one or more things happening before closing.
Under Contract: the purchase process is in the early phases, but the sale is moving forward.
Pending: the deal is almost complete, and any contingencies of the home sale were met.