10-07-2008 10:46 AM
I'm confused by what that status means. I've also seen "pending without release" and "pending show". Any clarification would be greatly appreciated.
10-07-2008 11:13 AM
I shall directly quote Bay Area Direct Agent, Jim Holt on this one:
Thanks for you interest in Redfin! When a property is labeled with a status of pending without release, it is essentially just in a pending state where the property is in escrow waiting for the lender to fund the money. This means that all contingencies have been removed at this point. The other option would be 'pending with release clause'. The release clause signifies that the buyer is trying to sell their current home also. It gives the buyer a certain amount of time stated in the contract to sell their house, and if they are unable to, they are able to be released from the contract of buying the new home. I hope this informations helps!
Redfin Direct Agent
Redfin Open Book
10-10-2008 01:43 PM
I believe pending with release is also applicable if not all contingencies are met (buyer trying to sell his/her home being one of them). The other contingencies like getting a loan, inspection, etc.may also qualify for pending with release state. Somebody please correct me if I am mistaken.
12-01-2009 12:39 PM
12-01-2009 02:35 PM