What is the difference between Active Under Contract vs Pending Sale for Long Beach CA Real Estate?

What is the difference between Active Under Contract vs Pending Sale for Long Beach CA Real Estate? Or any beach cities in Southern California?

Let’s Start with the Basics: Active Under Contract

You know when you find a house marked as “Active Under Contract”? That’s like saying, “Hey, someone’s in the lead, but the race isn’t over.”

It means the seller liked an offer but hasn’t done the victory dance yet. Imagine finding your dream home in this status; it’s like holding your breath for a chance at love.

Picture this: my client once stumbled upon my dream house listed as Active Under Contract. Heart pounding, We wrote an offer for them in a backup offer. Guess what? The stars aligned, and I got the keys to my dream castle.

Why Sellers Choose This Status?

Sellers pick “Active Under Contract” when they’ve got a promising offer but want a safety net. By keeping it active under contract or what we use to call “accepting backup offers”, sellers keep their options open and may get backup offers.

The backup offer gives sellers a little piece of mind that if the first buyer does not work out, they have a backup or replacement buyer.

Now, Let’s Dive into “Pending” in Long Beach, CA Real Estate

So, you’re scrolling, and suddenly a house is marked “Pending.” This is like reaching the final level of a video game. The seller accepted an offer, and they’re on the road to a done deal. No more new players can join; it’s game over for new offers.

Pros and Cons of Pending Status

• Speedy Closing: “Pending” means the deal is sprinting to the finish line. Quicker closing, fewer nerves. All contingencies of the contract have been removed.
• Seller’s Peace of Mind: Sellers breathe easy; their house is essentially off the market, with no more showings, no more stress.

Quick Note: While “Pending” usually means a solid deal, it’s not foolproof. Sometimes, life throws curveballs.

What Influences the Decision?

Let’s play detective. If a seller is super confident in the main offer, they might go “Pending.” No backups, no distractions.

In Long Beach, CA, where homes attract admirers like bees to honey, keeping a home “Active Under Contract” could lead to an even sweeter backup offer.

The Buyer’s Viewpoint

Buyers? They love seeing “Pending.” It’s like a warm hug saying, “This deal’s on track!” No investing time and emotions in a potential heartbreak.

Wrapping Up: Tailor Your Long Beach, CA Adventure

In Long Beach’s real estate dance, figuring out “Active Under Contract” vs. “Pending” is like nailing a dance move.

Each has its moment, and it’s your call to pick what fits your goals.

Whether you’re selling and want a safety net or buying and aiming for a smooth journey, these statuses matter.

• Let the real estate adventure in Long Beach begin! 🏡✨

Quick Story

As a real estate agent in Long Beach with 30 years of experience, I’ve helped many clients buy and sell homes.

And one question I get all the time is: “What’s the difference between a home being listed as Active Under Contract versus Pending Sale?”

It’s easy to get confused by real estate jargon. So let me break it down with a recent story. I had a client, who was eager to put in an offer on her absolute dream home right on the marina.

But when we viewed the listing on my Long Beach houses for sale page, my heart sank. It was already said “Active Under Contract.” my client was disappointed, thinking she missed her chance.

You see, Active Under Contract means the sellers found a buyer but left the house on the open market for backup offers in case that deal falls through.

• Pending Sale, on the other hand, usually means the sellers took their home off the market because their offer seems secure.

Now why would a seller do this? From working closely with sellers, I understand they often want the safety net of a backup offer.

Some fear the original buyer may run into issues with financing. Others worry that inspections might uncover too many problems, leaving them back at square one.

Knowing this, I urged my client to keep researching ocean-view homes. They wanted to submit an offer of $100,000 over the asking price, being a cash offer with the flexibility to close quickly.

And sure enough, a week later we got the call that the first offer fell through and my client’s offer was accepted! They were thrilled when the offer was accepted.

Active Under Contract status could surprisingly open the door back up to a once-in-a-lifetime home.

• My best advice is don’t give up hope and make sure your agent fully understands these labels to get your offer seen by the sellers. Because you never know when the tide might turn your way!

Please note: this article is written to share what Active under contract means. It is not meant to be legal advice since I’m not an attorney. I’m a California Realtor® with 30 years of experience.