The terms ‘under contract,’ ‘pending,’ and ‘contingent’ are frequently used interchangeably within the real estate context, but they carry nuanced distinctions in certain contexts. These expressions all indicate that a property has received an accepted offer and a fully executed contract exists between the buyer and seller.

In certain legal jurisdictions, the term ‘pending’ signifies a slightly more progressed stage in the transaction compared to ‘in contract’ or ‘contingent.’ While a home labeled as pending is indeed under contract, this status might also indicate that any contractual contingencies have been met and the closing date is approaching. Essentially, ‘pending’ refers to the interval after all contract contingencies have been satisfied and before the actual closing takes place.

Complicating matters, ‘contingent’ is sometimes employed interchangeably with ‘under contract’ or ‘pending.’ In essence, ‘contingent’ denotes the presence of a signed contract that includes a contingency clause, which could pertain to financing or another condition like a home inspection.

However, making a distinction between the statuses of ‘contingent’ and ‘under contract’ is largely unnecessary since the majority of properties under contract inherently include some form of contingency, most commonly a mortgage contingency. Consequently, homes that are under contract are nearly always contingent.

In summary, ‘under contract,’ ‘pending,’ and ‘contingent’ generally convey the same meaning, yet in specific regions, these terms might carry slightly divergent implications. As a result, it is advisable to directly inquire about the precise status from the listing agent instead of making assumptions based solely on the terminology used.