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

HomeLight

Line up backup offers to hedge your risk. This creates the perfect opportunity for sellers to line up a backup offer from another buyer that only comes into effect if the original pending sale falls through. There’s title work, which takes anywhere from two to five weeks. Source: (KomootP / ShutterStock).

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

HomeLight

Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. In other words, the primary deal on an active contingent listing might (maybe) fall through, causing sellers to place their home back on the market — or accept a backup offer. “I Common types of contingencies.