As a copy editor with experience in SEO, it is important to understand and explain complex real estate terminology in a clear and concise manner. One such term that may be confusing for both buyers and sellers is «under contract option pending.»

Under contract option pending means that a buyer has made an offer on a property and the seller has accepted it, but the sale is still contingent on certain conditions being met. These conditions could include a home inspection, financing, appraisal, or other contingencies outlined in the contract.

One of the most crucial conditions for a sale is the option period. During this time, the buyer has the option to terminate the contract for any reason without penalty. This option period typically lasts anywhere from 7 to 14 days, but it can be negotiated between the buyer and seller.

Once the option period is over, the sale is no longer option pending, and the contract becomes binding. The buyer must move forward with the purchase, and the seller must transfer ownership of the property.

It is important to note that a property can still be shown and marketed as under contract option pending during the option period. This is because the sale is not yet final, and other potential buyers may have the opportunity to make a backup offer in case the current contract falls through.

In summary, under contract option pending is a real estate term that refers to a property that has a pending sale, but the sale is contingent upon certain conditions being met. The most crucial of these conditions is the option period, during which the buyer has the right to terminate the contract for any reason without penalty. Once the option period ends, the sale becomes binding, and the property is no longer considered under contract option pending.