What Does Pending Mean in Real Estate?
When you see a property listed as "pending" or "sold conditionally," it means an offer has been accepted but the sale is not yet complete. Understanding listing statuses helps you make smarter decisions — whether you are a buyer looking at a property that caught your eye or a seller trying to understand where your deal stands.
MLS Listing Statuses Explained
In Ontario, the Toronto Regional Real Estate Board (TRREB) MLS system uses specific status codes. Here is what each one means:
Active (A)
The property is currently for sale and available for showings and offers. No accepted offers.
Sold Conditionally (SC)
An offer has been accepted subject to conditions (e.g., financing, inspection). The deal may still fall through.
Sold (SLD)
All conditions have been fulfilled or waived. The deal is firm and binding, awaiting closing.
Terminated (T)
The listing agreement has ended or been cancelled. The property may be relisted with a different agent or at a different price.
Suspended (S)
The listing has been temporarily taken off the market but the listing agreement is still active. Common during renovations or personal circumstances.
The Journey from Active to Sold
Here is a typical timeline showing how a listing moves through different statuses in Ontario:
Listed as Active
The property goes live on MLS. Showings begin, and buyer agents can submit offers on behalf of their clients.
Offer Accepted with Conditions
The seller accepts an offer, but it is conditional on financing, home inspection, and/or other terms. The listing status changes to Sold Conditionally (SC).
Conditions Fulfilled
The buyer completes their due diligence. If all conditions are met, they are waived and the deal becomes firm. Status changes to Sold (SLD).
Closing Day
Lawyers complete the title transfer, funds are exchanged, and the buyer receives the keys. The transaction is complete.
Common Conditions in Ontario
These are the most common conditions that keep a sale in "conditional" status before it becomes firm:
Buyer Conditions
- Financing: Buyer must secure mortgage approval
- Home Inspection: Satisfactory inspection results
- Sale of Buyer's Home: Buyer must sell their existing property
- Status Certificate: Review of condo documents (condos only)
- Lawyer Review: Legal review of the agreement
What Causes Deals to Fall Through
- Financing is denied by the lender
- Home inspection reveals major structural issues
- Buyer's existing home does not sell in time
- Status certificate reveals unexpected issues or fees
- Appraisal comes in below the purchase price
What to Do When a Property Is Pending
If You Are a Buyer
- Ask your agent if backup offers are being accepted
- Submit a strong backup offer if conditionally sold
- Continue searching — do not put all hopes on one property
- Set up listing alerts so you never miss new opportunities
- Get pre-approved so you are ready to act quickly
If You Are a Seller
- Consider accepting backup offers as insurance
- Track condition deadlines carefully with your agent
- Keep the home showing-ready until conditions are waived
- Begin preparing for closing once the deal is firm
- Engage your lawyer early to avoid last-minute issues
Pending vs. Conditional vs. Sold: Quick Comparison
Frequently Asked Questions
What does 'pending' mean in real estate?
In real estate, 'pending' means the seller has accepted an offer and the sale is moving toward closing, but the transaction has not yet been completed. The property is essentially under contract. In Ontario's MLS system, a listing may show as 'sold conditionally' (SC) when conditions are still being fulfilled, or 'sold' (SLD) once all conditions have been waived or fulfilled and the deal is firm. The term 'pending' is used more commonly in U.S. markets, while Ontario uses 'sold conditionally' and 'sold' to indicate similar stages.
Can I still make an offer on a pending or conditionally sold property?
It depends on the situation. If a property is 'sold conditionally' in Ontario, the seller may still be willing to accept backup offers. A backup offer sits in second position — if the first deal falls through (e.g., the buyer's financing is denied or the home inspection reveals major issues), the backup offer can step in. However, if the property shows as 'sold' (firm and binding), making an offer is generally not possible. Your agent can contact the listing agent to determine whether backup offers are being considered.
What is the difference between pending and conditional?
A conditional sale means the deal has been accepted but is subject to certain conditions that must be fulfilled — such as financing approval, a satisfactory home inspection, or the sale of the buyer's existing home. A pending sale (or 'sold' in Ontario's MLS) means all conditions have been waived or fulfilled and the deal is firm, with closing scheduled. The conditional period is when the deal is most likely to fall through; once it moves to firm/pending, the sale is highly likely to close.
How long does a property stay in pending status?
The time between a firm (pending) sale and closing varies based on what the buyer and seller agreed to in the Agreement of Purchase and Sale. In Ontario, closing periods typically range from 30 to 90 days, though they can be shorter or longer. The conditional period (before it becomes firm) usually lasts 5 to 15 business days, during which the buyer completes their due diligence — financing, home inspection, and any other conditions outlined in the offer.
Can a pending sale fall through?
Yes, though it is less common once a sale is firm (pending). During the conditional period, deals fall through regularly — financing is denied, a home inspection reveals costly issues, or the buyer's existing home does not sell. Once conditions are waived and the deal is firm, it rarely falls through, but it can happen due to breach of contract, title issues discovered during legal review, or other exceptional circumstances. If a firm deal falls through, the deposit is typically at risk and may be forfeited to the seller.
What should I do as a buyer if my dream home is pending?
If the property is conditionally sold, ask your agent to submit a backup offer. This positions you as the next buyer if the current deal falls through. If it is already sold firm, continue your search but ask your agent to notify you if the deal falls through before closing. In the meantime, focus on finding other properties — in a competitive market, there are always new opportunities. Your agent can set up automated alerts so you never miss a new listing that matches your criteria.
Have Questions About a Listing Status?
Joe Battaglia and the Battaglia Team can help you understand the status of any property, submit backup offers on conditionally sold homes, and find the perfect home for your needs. With over 25 years of experience in Mississauga and the GTA, we guide you through every step of the process.