Buyers, Residential Contracts
What does “Option Pending” mean?
Man you guys, you ask this question a lot!
What does option pending mean? Everybody wants to know. “Hey, I saw that listing online
I’d really like to see it, but it says option pending.”
Option Pending means somebody made an offer and the seller and buyer have agreed on the terms. Everyone has signed it, and the contract has been escrowed at the title company. It means it’s under contract.
It means that they’re under the option period
which is basically when the buyer is doing their due diligence because they are getting inspections. They’re making sure that the house is in the condition at which they think that they want to continue with the purchase of the property.
Once it is done with the option period, guess what? It goes to pending. I’m not even gonna do a whole other video on that because pending just means pending.
So next time you see something that says “option period”, now you can say, “Oh okay, so it’s under contract and they’re doing inspections!”
- Cori Radley
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