06/05/2021
What is the difference between pending and contingent? This is a great question!
A home listing marked as “pending” means it is already under contract with another buyer. Someone beat you to it, and got an agreement signed with the seller. Technically, it means that a sale is pending, and all the terms and contract work has been done.
A “contingent” real estate listing means that a purchase and sales agreement has been signed between buyer and seller, but the closing is still contingent on one or more factors being met.
The difference between pending and contingent is that pending means the home is already under contract with another buyer and that all the terms and contract work has been done. Meanwhile, contingent means that the closing is still contingent on one or more factors being met.