Why does the listing status still read pending it's been pending for quite some time?
9,053We saw a home that we liked the end of November. We walked through the house twice and did not move fast enough - we really was not financially ready and are currently leasing an apartment. The status changed to option pending continue to show about two weeks after. It then changed to pending about 2.5 weeks later... it's still listed under pending. I had my realtor check and he said it's being purchased by a investor. Why is it taking this long? I'm praying hard that the deal falls through... but I know it's probably unlikely. I received an e-mail from HAR tonight that says there was a change.. when I looked at it nothing changed it still reads pending. Why is taking so long?
7 answer(s)
Martin Alcala
About 11 years ago
Veronica made a very good point: smells like a short sale to me as well...
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DislikeHolly Montalbano
About 11 years ago
It could be any number of reasons that it has not closed. Even though most contracts are closing within 6 weeks, the buyer and seller may have agreed to a later closing. date. If it's a short sale, it could take months to close even though the buyer is ready. Then again, the contract could be shaky due to financing or repairs. It's impossible to say. Your Realtor can check the anticipated closing date or better yet, have your Realtor call the listing agent and find out if it's a solid contract. If not, you may want to submit a back-up offer!
Michelle Williams
About 11 years ago
There are a lot of reasons if may still show pending. I would recommend you contact the listing agent and find out what is actually going on.
Darrin Winner
About 11 years ago
Some transaction take months to close. Keep checking the status, at the last minute it may not close and end up back on the market. However, you should continue looking at other listings. Houses are listed everyday and you may find something you like even better.
Sajit Vartak
About 11 years ago
It won't show as sold until the closing is done. I guess for some reason the closing is not done yet.
Jodi Sherretts
About 11 years ago
Sometimes it takes a while to close a transaction. Many things can happen to postpone it.
Veronica Mullenix
About 11 years ago
It sounds like it is a short sale with two lien holders.
When there are two lien holders often it is long and difficult to get them both in agreement as to how much each will be short on the payoff.
When there are two lien holders often it is long and difficult to get them both in agreement as to how much each will be short on the payoff.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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