Late last week I got another phone call from a Buyer's Agent asking me, the Seller's Agent, if my Pending listing is solid, or if there is a chance that the transaction could fall apart?
*Sigh*
So I have to wonder where were these interested buyers all the months my seller clients' home was on the market? I mean I know that the Seattle Real Estate Market is picking up for spring, but still, I have gotten 3 of these calls in the past two weeks. In all three cases the buyers had been on the fence about making the decision to make an offer...then they lost the opportunity when someone did and beat them to it.
It is hard to make the decision to make an offer on a house, but think how you will feel if someone makes an accepted offer on what could have been YOUR home?
I have always "pounced" on a home when I wanted it...sometimes it would be to the dismay of friends and family (armchair experts) but I always faired well...
Posted by: Rhonda Porter | February 26, 2008 at 10:59 PM
Hi Rhonda,
I think that "pouncing" is a STRONG gut reaction...and sometimes you gotta go with your gut! LOL!
Posted by: Deborah Burns | February 26, 2008 at 11:38 PM
Now that something besides the crappy REO's are selling, it's happened to me several times recently here in "Vintage Vegas". All 3 of them were buyers I'M working with who wouldn't get off the fence. Ow well, live and learn.
Posted by: Uncle Jack (Jack LeVine) | April 02, 2008 at 03:08 PM
Hi Jack,
It's funny when that happens. When you are not sure of something, and then someone else decides to get it, suddenly it is all that more desirable...and now you WANT it!
Posted by: Deborah Burns | April 02, 2008 at 10:39 PM
I am not familiar with the so called "pending listing".Because i am new in real estate industry.Can you explain to me about this?Thanks
-Ella
Posted by: louisville ky apartments | February 24, 2009 at 06:28 PM
Hi Ella,
"Pending" in Washington state is the status of a home listed on our local MLS (multiple listing service) when an offer (the purchases and sales contract) has been accepted by both the seller and buyer.
The homes' status is no longer "active" for sale on the market once the offer is accepted.
The status then changes to "pending inspection" while the buyer has the home inspected. Once the buyer is satisfied with the inspection, the homes' status changes to "pending" while the escrow transaction process moves forward.
Once the transaction is closed, and the buyer now becomes the home owner, the status then changes to "sold".
Until the home is actually sold, there is always the possibility that something could prevent the transaction from closing and the house going back on the market. That is why I got calls from the other agents, their clients who had been thinking about the house, now found themselves wanting the house. Those buyers wanted to know if there was any possibility that the transaction would fail and the house come back on the market. Which would mean they could then have the opportunity to make an offer.
Hope this helps, and if you have any other questions please feel free to contact me, I am happy to answer them.
Posted by: Deborah Burns | February 24, 2009 at 10:20 PM
am not familiar with the so called "pending listing
Posted by: industrial chemical | October 28, 2011 at 02:37 AM