Homes Pending

3 Replies

Hi! I was just wondering when looking for homes to fix and flip when the ad says pending is it still worth inquiring about? Does that just mean earnest money has been put up and they are still working out the details?
Hi Crystal, Personally, I would skip those deals that are pending on MLS...99% of the time they close and if they don't they will get re-listed as "back on market" at least in AZ. If there is a house in particular that you really like maybe keep an eye on it, or offer the person who purchased it more money, depends on what you are trying to do. My dad bought a house in this one flippers AOE and the guy offered him almost as much as he would make flipping for a finders fee and no work so he took that instead of flipping and reinvested it in another deal. -John

As an agent, I have an auto searches for Pending properties and "back on market" properties. If you have access to the MLS i suggest you do the same. When the market is very hot, as it is right now in Atlanta, I see myself making a lot more back up offers.

If the deal looks good enough I suggest just putting a written back up offer and let the seller know to call you if anything goes wrong.