The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

The real estate term "pending contract" means that someone has made an offer on the property and the seller has accepted. Typically contingent on a home inspection to the buyers satisfaction and financing. There could also be a home sale contingency which means the seller has an escape clause typically if another buyer comes along.

Real estate owned, or REO, is a term used to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction.