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10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

Closing 105
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What Buyers Need to Know About Making an Offer on Active Contingent Listings

HomeLight

These conditions are known as contingencies, which is where the term “active contingent” comes from. Many offers contain contingencies. In May 2020, 76% of closed sales contained purchase contingencies, a survey from the National Association of Realtors® (NAR) found.