Under Contract - Pending

Option Period is over and they are still moving forward with the transaction.

Hi Ronald!

Here is the general break down for each status:

The different pending options are as follows:

OP: Option Pending - The sellers have accepted a contract. This period is the time the buyers continue their due diligence and complete inspections. The buyer pays for this option period and in return has the unrestricted right to terminate at any time for any reason. Any repair amendments should also take place within this period. I watch properties very closely in the option period.. sometimes you see them go back active pretty quickly due to buyer change of heart.

PS: Pending continue to Show - For reasons determined by the seller, they have continued to show the home although a contract has been accepted and through the option period. Sellers may choose to keep showing the home if there is a contingency or while waiting for final financing approval as determined in the Third Party Financing Addendum.

P: Pending - Option period complete, contract is waiting to close. No showings will be allowed through CSS.

I'd be happy to check on a specific property you want more information on. Feel free to send it my way!

Darby Grimmett
Keller Williams
darby@darbygrimmett.com
936-827-9217

Ronald,

Happy New Year! If you are trying to find out what the different statuses mean when viewing listings, here they are as follows:
A - Active - Used for all currently active listings. Agents must have a valid listing agreement signed by the seller before entering a listing as Active. Listings that have a signed purchase contract (with contingency or otherwise) should NOT be classified as Active.
OP - Option Pending - Listings that are under contract and the seller and buyer have agreed to use the “Termination Option” in paragraph 23 of the standard TREC contract.
PS - Pending continue to Show - Used for listings currently under contract but are still available to show. Listings having a contract with a contingency and taking back-up offers should be Pending Continue to Show.
P - Pending - Used for listings under contact and are no longer available to show.
S - Sold - Used when a property has funded and closed. All sales closed must be reported to MLS. Listings should not be changed to Sold status before the actual closing.
W - Withdrawn - Used when a listing is taken off the market or seller requests the listing no longer be marketed in the MLS, but a valid listing agreement still exists.
T - Terminated - Used when the listing agreement between the owner and the listing agent is terminated prior to the listing expiration date.
X - Expired - Used when the listing agreement between the owner and the listing agent ends, at an agreed upon date in the listing agreement.

I see that you have asked more than one question and am thinking that now would be a great time for you to secure a REALTOR for yourself! You could enjoy the luxury of having knowledge and experience at your fingertips plus invaluable market insight that could give you the competitive edge you need against other consumers who are also searching! Feel free to reach out to me directly, I'd love to assist!

Cody Mier
Intero Real Estate Services
(832) 373-9755
cody@interohouston.com

Hi Ronald,
Under Contract-Pending means the property has a contract on it and they are no longer allowing showings and the option period is over, but they have not finalized the deal completely and made it to the closing table yet. They may allow you to be a backup contract for some reason if the deals falls through at the last minute
Stacy Burgin 713-409-7698
Terra Point Realty
stacy@terrapointrealty.com

Under contract pending means that there is already a contract on the house and the option period has expired but it hasn't closed yet.
Francois 713-397-8857

According to the MLS Status Definitions, Pending means, "Used for listings under contact and are no longer available to show." See the link below for listing status definitions. This can also be found under the MLS tab in the Member Portal on the right under "MLS Education."