Are you confused whether “pending” and “under contract” mean the same thing? Well, you are not alone. These terms are commonly used in real estate and can often be used interchangeably. However, there is a subtle difference between the two.
When a property is listed as “pending,” it means that an offer has been accepted by the seller, and both parties have signed a contract. The contract includes all the terms and conditions of the sale, such as the purchase price, contingencies, and closing date. However, the sale is not yet final because there are still some steps that need to be taken before the property changes ownership, such as the completion of inspections, appraisals, and financing.
On the other hand, “under contract” means that a buyer has signed a contract to purchase the property, but the seller has not yet accepted the offer. The seller may be considering other offers, negotiating terms, or waiting for the buyer to fulfill certain conditions before accepting the offer.
So, the key difference between “pending” and “under contract” is that in the former, the seller has already accepted an offer, while in the latter, the buyer has signed a contract, but the seller has not yet accepted it.
From an SEO perspective, it is essential to use the correct terminology when listing properties on your website or other marketing materials. Potential buyers and sellers may search for properties that are either “pending” or “under contract,” so it is crucial to use the appropriate term to ensure your site ranks well in search results.
In conclusion, “pending” and “under contract” have slightly different meanings in the world of real estate. As a copy editor, it is crucial to be familiar with both terms and use them appropriately to ensure clarity in communication and to attract the right audience to your site.
