The Buying Process: Pending Status
Work with Lending / (Processing / Underwriting) to Confirm items needed for Final Approval
*This could include insurance on new home, bank statements, employment verification and more.
All of a Sudden, things get QUIET!!!!
Pending Status - where you as the buyer(s) work closely with your preferred lender to gather any additional outstanding documents (also known as “conditions”).
This “pending” stage is typically referred to as Processing and Underwriting.
Expect for this phase to last approximately 2 weeks (or more) and is often referenced as one of the most challenging phases within the homebuying process...
ATTENTION: Please do not make any large purchases, acquire any bank overdraft fees, and/or take out ANY loans during the home-buying process.
Any of the above-mentioned “no-no’s” (in brief) could terribly jeopardize a buyer’s ability to be fully approved for their loan - further causing them not to be able to close on the property at all.