You’re scrolling through listings at 2 AM (we’ve all been there), and you spot your dream home. Perfect location, killer kitchen, price that won’t make your wallet weep. Then you see it: “Status: Contingent” or “Status: Pending.”
Your heart sinks faster than your credit score after a shopping spree.
But hold up – those statuses aren’t death sentences for your homebuying dreams. They’re more like relationship status updates: “It’s complicated.” Here’s the real deal on pending vs contingent and why understanding the difference could be your secret weapon in today’s wild housing market.
What Does Contingent Actually Mean?
Think of contingent like a relationship with conditions. The seller said “yes” to someone’s offer, but there’s a whole list of “ifs” that need to happen first.
Contingent means the seller accepted an offer, but the deal has strings attached – contingencies that must be satisfied before anyone pops champagne. It’s like agreeing to go on a second date, but only if the first one doesn’t end with them showing you their collection of vintage toenail clippings.
The home stays active on the market because, realistically, these conditions might not pan out.
Common Types of Contingencies
Inspection Contingency: The buyer gets to poke around your future home like a detective. If they find something sketchy – say, a foundation that’s more suggestion than structure – they can negotiate repairs or bounce entirely.
Financing Contingency: This one’s huge. The deal only goes through if the buyer can actually get approved for their mortgage. Banks can be pickier than your mom choosing a restaurant, so this protection saves buyers from being stuck with a house they can’t afford.
Appraisal Contingency: The bank sends someone to confirm the home is actually worth what everyone agreed to pay. If the appraiser says “nah, this place is worth 20K less,” the buyer can renegotiate or walk away.
Home Sale Contingency: The buyer needs to sell their current place first. It’s like musical chairs, but with mortgages and moving trucks.
Different Contingent Statuses (And What They Mean for You)
Contingent – Continue to Show (CCS) Translation: “We have a deal, but keep the tours coming.” Sellers are still entertaining visitors and potentially backup offers. Your shot isn’t dead yet.
Contingent – No Show. The seller hit pause on showings. They’re feeling pretty good about their current deal, but it’s not locked down.
Contingent – Kick-Out Clause This is where it gets spicy. The seller can accept a better offer and give the original buyer a chance to drop their contingencies or get kicked to the curb. It’s survival of the fittest, real estate edition.
What Does Pending Mean?
Pending is the real estate equivalent of “it’s official” on social media. All those pesky contingencies? Handled. The paperwork? Filed. The deal is in its final victory lap before closing.
When a listing shows pending, the seller and buyer have jumped through all the hoops. They’re just waiting for the last bits of legal paperwork, final mortgage approval, and the keys to change hands.
Types of Pending Status
Pending – Taking Backups Plot twist: even though everything looks solid, the seller is still collecting backup offers. Smart move, because real estate can go sideways faster than a drift car.
Pending – No Show/Do Not Show. Both sides are confident this deal is closing. The seller stopped showing the house because they’re basically already mentally spending that money.
Pending – Short Sale: The home is selling for less than what’s owed on the mortgage. This process needs lender approval and moves more slowly than dial-up internet. Patience required.
Pending – More Than Four Months Something’s stuck in the gears. Either there are complications, or someone forgot to update the status after closing. It happens.
Can You Still Make an Offer on Contingent or Pending Homes?
Short answer: Yeah, you can shoot your shot.
Longer answer: Your chances vary wildly depending on the specific situation, but here’s the thing – deals fall through. According to the National Association of Realtors, about 5-6% of contracts get terminated. That’s your window.
Making an Offer on a Contingent Home
Do Your Homework First. Get your agent to chat with the listing agent. What contingencies are still hanging out there? How confident are both sides? Is the seller even entertaining backup offers?
Come Correct With Your Offer
- Price it right (maybe slightly above asking if you’re serious)
- Keep your contingencies minimal but protective
- Show you’re pre-approved and ready to move
- Include earnest money that proves you’re not just window shopping
Stay Ready. If that primary deal crashes and burns, you want to be first in line with an offer that’s already dialed in.
Making an Offer on a Pending Home
This is trickier territory. Most pending deals are pretty locked down, but if the seller is taking backups, here’s your play:
Price to Stand Out: You might need to go above the pending offer to get attention. Not always, but don’t be surprised if that’s what it takes.
Move Fast. Your offer needs an expiration date. Give them 48-72 hours to respond, max. You’re not waiting around forever for a maybe.
Be the Easy Choice: Fewer contingencies, flexible closing dates, higher earnest money – make yourself the obvious backup plan.
How Often Do These Deals Actually Fall Through?
Here’s some real talk: most contingent and pending deals actually close. We’re talking about a 94-95% success rate once you hit these statuses.
But that 5-6% failure rate? That’s still thousands of homes that come back on the market every month. The trick is positioning yourself to catch them when they do.
Why Deals Fall Apart:
- Financing gets denied (most common)
- Inspection reveals deal-breaking issues
- Appraisal comes in low
- Buyer gets cold feet
- Life happens (job loss, divorce, sudden move)
The Smart Play: How to Position Yourself
Get Pre-Approved (For Real), not pre-qualified. Pre-approved. Know exactly what you can borrow and have that letter ready. When a deal falls through, speed wins.
Work With an Agent Who Gets It. You need someone plugged into the local market who can give you the real story on these listings. Not every agent is created equal.
Have Your Backup Offer Read.y Write it up ahead of time. When that contingent deal goes south, you can submit within hours, not days.
Stay Flexible. The seller’s timeline might be weird. Maybe they need a quick close, maybe they need extra time. Roll with it if the house is worth it.
Red Flags to Watch For
Super Long Pending Status: If something’s been pending for months, there’s probably drama behind the scenes. Proceed with caution.
Multiple Status Changes Contingent to pending back to contingent again? That’s usually not a good sign. The deal might have more issues than a reality TV show.
Vague Explanations: If agents are being cagey about why the home is contingent or what the timeline looks like, trust your gut. There might be complications they don’t want to discuss.
Your Action Plan
For Contingent Homes:
- Get the full story from your agent
- Prepare a competitive backup offer
- Stay in touch about the primary deal’s progress
- Be ready to move fast if it falls through
For Pending Homes:
- Only pursue if they’re taking backups
- Make your best offer upfront
- Don’t get emotionally attached
- Keep looking at other options
The Bottom Line
Pending vs contingent isn’t just real estate jargon – it’s intel you can use. Contingent gives you a better shot at success, while pending is more of a long shot that occasionally pays off.
The housing market moves fast, but it’s not a sprint. Play it smart, stay prepared, and remember that the right home at the right time is worth waiting for. Even if that means playing backup to someone else’s dream for a minute.
Your perfect place might be sitting in contingent status right now, just waiting for the current deal to hit a snag. Stay ready, and you might just swoop in and make it yours.
