Contingent vs. Pending: What’s The Difference? Home Buyers Guide
Written by
Kelli Francis
Edited by
Emily Gadd
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
There’s a very specific rhythm to the process of buying a home, especially once an offer is accepted. At that point, the home sale becomes either contingent or pending.
Understanding the home’s status can help you understand what steps remain before the sale is finalized.
What Does “Contingent” Mean in Real Estate?
A contingent status means that a seller has accepted an offer, but certain conditions — called contingencies — must be met before the deal can move forward. This protects the buyer if they need to back out because specific requirements aren’t satisfied.
Common Contingencies in Home Purchase Agreements
- Financing Contingency. Many buyers need a mortgage to purchase a home. A financing contingency allows a buyer to back out if they can’t secure a loan within a specified timeframe.
- Home Inspection Contingency. A home inspection contingency enables the buyer to have the property inspected. If significant issues arise — such as structural problems or costly repairs — the buyer can negotiate repairs with the seller or walk away from the deal.
- Appraisal Contingency. Lenders ask for an appraisal to ensure the home is worth the loan amount. If the appraisal comes in lower than the sale price, the buyer can renegotiate, cover the difference or withdraw from the purchase.
- Home Sale Contingency. Some buyers have to sell their current home before they can afford a new one. A home sale contingency makes the offer dependent on successfully closing their existing home sale.
What Does “Pending” Mean in Real Estate?
When a home’s status changes to pending, it means all contingencies have been met, and the sale is moving toward closing. At this stage, the transaction is in its final steps, such as title searches, final mortgage approval and preparing closing documents.
Unlike a contingent listing, a pending home is typically no longer accepting offers.
Key Differences Between Contingent and Pending
Availability to Other Buyers
- Contingent: The seller may still accept backup offers in case the deal falls through.
- Pending: The property is usually off the market, with no new offers considered.
Stage in the Sales Process
- Contingent: Early stage — contingencies must still be met before moving forward.
- Pending: Later stage — contingencies have been cleared, and the sale is awaiting closing.
Making an Offer on a Pending Property
It’s much harder to make an offer on a pending home since the sale is close to completion. However, in rare cases, deals do fall through at the last minute. If you’re highly interested, your agent can reach out to the seller’s agent to see if backup offers are being considered.
Why Do Contingent or Pending Sales Fall Through?
Even with an accepted offer, some deals don’t make it to closing. Here are some common reasons why a home sale might fall through.
- Financing Issues. Even with pre-approval, a buyer’s loan can be denied due to changes in financial status, low credit scores, or lender concerns.
- Unsatisfactory Inspection Results. If an inspection uncovers costly repairs or serious structural issues, the buyer may walk away or ask for repairs the seller isn’t willing to make.
- Appraisal Discrepancies. If an appraisal comes in below the agreed-upon price, the buyer may not secure financing unless the seller lowers the price or the buyer covers the difference.
What Buyers Should Know
- Knowing the difference between contingent and pending homes helps you determine which properties are still within reach.
- If you’re interested in a contingent home, ask your agent about making a backup offer.
- Stay flexible–contingencies can delay sales, and unexpected issues can arise.
What Sellers Should Know
- If your home is contingent, be prepared for possible delays or negotiations.
- Accepting backup offers can be a smart strategy in case the first deal falls through.
- Work closely with your agent to work through contingencies and keep the sale moving smoothly.
Final Thoughts
Understanding contingent and pending statuses can help buyers make smarter offers and sellers navigate the sales process more effectively. Whether you’re purchasing or selling a home, knowing what to expect at each stage of the transaction can help you avoid surprises and make informed decisions.
Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.
- Rocket Homes. 2021. "Contingent Vs. Pending Real Estate Listings: What’s The Difference?"
