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Real estate question

A neighbor's "for sale" sign has had a "sale pending" addition to it for severl days.  A few blocks down the same realtor added "under contract" on a different house. How can a sale be pending without a contract? 

Also...why would you advertise anything short of a contract.  If I were house shopping I wouldn't bother to look into a "sale pending"  or "under contract" house because it is as good as sold for my purposes. 
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Re: Real estate question

  • InksWellInksWell member
    100 Comments
    edited December 2011

    Maybe that's about advertising how good the realtor is in the bad market, as opposed to advertising the house. They aren't hoping you buy the house at that point, they're hoping when you put yours on the market you will remember all those contract signs.

    Or maybe it means that the owner is negotiating a lease rather than a sale. I know a couple who had their realtor offer their house as a rental when it didn't sell, and there was contracting involved.

    I could be wrong, just guessing.

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  • zsazsa-stlzsazsa-stl member
    Eighth Anniversary 5000 Comments 100 Love Its First Answer
    edited December 2011
    The rental situation would make sense.
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    I just a friendly gal looking for options.

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  • aleebaleeb member
    First Comment
    edited December 2011
    This could be a situation where the seller is willing to finance the buyer, where the buyer pays the seller as they would the mortgage co.   Or maybe that there is a land lease on the property that the home is on.
  • 6fsn6fsn member
    Knottie Warrior 10000 Comments 500 Love Its Name Dropper
    edited December 2011
    Or maybe the realtor ran out of "under contract" signs.
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