Can I buy a home that is pending?

A: The shorter answer to that question in most cases is no. If there is another offer on the house, that offer is a binding contract to purchase the home. However, in real estate the one thing that is always true is that a transaction is never closed until it’s closed.
And there are opportunities – buyers do back out, their financing fails, they find something that they don’t like on the inspection. So there may be an opportunity for you to get that house if the first buyer decides to back out.

The best way to approach it as a consumer is to work with me to so that I can reach out to the other agent involved and make your intentions known that you’re interested in the house and if any status changes on the home, you should go ahead and alert us promptly so that we can put in another offer on the home. If you’re really interested in the home, you could even put in a back-up offer so that your offer would automatically become active if the first buyer were to fall through.


Thanks for the article Kevin Lisota