Pending: A home’s status is changed to “Pending” in MLS (Multiple Listing Service) once the seller has accepted an offer but the deal hasn’t closed yet. During this period, the lender and escrow agent or attorney process the loan and title documents to make sure the deal closes on time. Pending does not mean sold because there are any number of things that could prevent the house from closing—buyer financing falls through, a buyer backs out after inspection findings, or other reasons.
