The difference between P (Pending) & C (Contract) (contingent, disclosure, appraisal)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Was hoping someone could explain what the difference between Pending & Contract is on a listing? I have been interested in a house and see it is at a Pending status. Obviously the house is sold but curious as to what separates the two statuses?
What state are you in? Texas markets don't have a "contract" stage. It's either Active, some type of Active like with a Contingency or Inspections, or it's Pending. No "Contract".
Actually, it isn't just a Texas thing - it depends on the MLS what categories are. For example, Austin has Pending, Pending Backup if a house is under contract. There's also AC for when there's a contract but it has a contingency (such as the buyer having to sell their house before they can close on this one). Fort Hood Area MLS, just up the road a bit, has Under Contract, and then under that category it has Under Contract Continue to Show, Under Contract With Option Period, or just Under Contract.
So it matters which state you're in, and sometimes it matters with MLS the house is listed in.
One of the reasons I love Realtor.com is that they easily hide pending listings. They also have the best system for finding single family homes, other places list condos and co-ops with the results. They also don't list all those annoying auctions and foreclosures.
However, some states have "contingent but continue to show". And "contingent do not show". The difference being, generally, the do not show means it's pretty firm and just the usual lender app and appraisal.
You probably want status "A", which would mean Active, if you have that option. Active means fully available. That said, some agents in some areas will commonly leave a home as Active even when they have a contract on it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
