Should You Tour A Sale Pending House Manage Your Expectations

Dated: 05/10/2019

Views: 193

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A "sale pending" house may seem like it's off the market, but don't be so quick to write this one off. A more precise assessment of the property's status? A buyer's offer has been accepted and the deal should go through but it might not.

A property's status goes to "pending" on the multiple listing service the minute a contract is executed between the buyer and seller. But life happens, and there's still a chance the home can be active once again.

Should you take a chance on a 'sale pending' house?

If your dream home happens to be pending, it might be worth it just to take a look and make an offer.

A buyer’s agent can show their client any home as long as the listing agent and the seller approves the showing appointment but there are clients who ask not to see pending properties for fear of getting emotionally attached to a home they might not be able to buy.

Other buyers might be willing to take a chance on a backup contract, hedging their bets that the current deal could fall apart. In a red-hot seller's market in which homes come on the market and are instantly gobbled up for full price or far more, one of the best places to find a deal can be on a pending sale.

The secret to nabbing a 'sale pending' home

As long as you're financially comfortable doing so, it might be worth it to offer more than the asking price. Then, if and when the first offer hits a bump in the road, “the seller has an incentive to let that first offer terminate by the primary buyer’s actions and you can move into first position.

There were concerns about the home appraisal coming in at full value. The seller agreed to consider a backup offer, and when the primary offer’s appraisal did indeed come up short, clients slid into first place.

so,  if you want something, go for it.


 

El Paso TX and Las Cruces NM Homes for Sale 
Luis F Navarro and Ana Maria Navarro Team, Real Estate agents in Exit West Realty El Paso TX. Luis specializes in commercial and residencial properties in El Paso TX and Ana Maria Navarro with license also in New Mexico specializing in Las Cruces, Anthony, Santa Teresa, Sunland Park. Whether you are searching for your personal residence, an income or commercial property, or you are introducing your home to the marketplace; our team can help make your real estate dream a reality. We are bilingual and can help you find the property of your needs either in English or Spanish. If you have any questions regarding El Paso TX, Anthony, Santa Teresa, Las Crues,Vado NM Homes for Sale call us today. Luis F Navarro (915) 731-4545 and Ana Maria Navarro (915) 820-8484 

Click here to visit to search homes in El Paso, Tx. 

Find your dream home today.

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Luis F Navarro

Biography Luis Fernando Navarro Biography Luis was born in Chihuahua, Mexico and came to the United States in 1970 to attend UTEP to study Business Administration. For more than 22 years he sta....

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