Seeing a home flip to contingent or pending on an Indianapolis listing and not sure what it means for you? You are not alone. These labels vary by MLS and by broker, and they can change whether you can tour, submit a backup offer, or expect a home to close soon. In this guide, you will learn how each status is used in Marion County, what it means for buyers and sellers, and the steps to take next. Let’s dive in.
Contingent vs pending in Indianapolis
What “contingent” means
A seller has accepted a buyer’s offer, but one or more contract contingencies still need to be satisfied or waived. Common examples include inspection, financing, appraisal, title research, or a home-sale contingency.
- Local practice: In the Indianapolis area, many contingent listings remain visible and may still be shown. Sellers often continue marketing and can accept backup offers while contingencies are open, unless the contract says otherwise.
- For buyers: A contingent home is not a sure sale. The deal can fall through if a contingency fails, so a backup offer is often possible.
- For sellers: You can usually keep marketing and accept backups while the buyer works through contingencies, subject to your signed agreement.
What “pending” means
Major contingencies have been satisfied or waived and the contract is moving toward closing. Closing details are set or near final.
- Local practice: Many Indianapolis-area brokers move a listing to pending after the main contingencies clear. Pending homes are often removed from active showings, and sellers commonly stop soliciting backups, though practices vary.
- For buyers: A pending home has lower odds of becoming available. A backup offer may still be allowed, but it is less likely to be needed than with a contingent listing.
- For sellers: Pending signals you have a firm buyer. Whether you accept backups or keep marketing depends on your contract and preference.
Tip: In central Indiana, MIBOR is the principal MLS. Status labels can appear as Active-Contingent, Active Under Contract, Contingent, or Pending. Always confirm details with the listing agent, because the label does not reveal which contingencies remain or whether showings or backups are allowed.
Common contingencies and timing
Contingency periods are negotiable. Your signed Indiana purchase agreement controls exact deadlines.
Inspection contingency
- Purpose: Gives the buyer time to inspect and then request repairs, negotiate, or cancel within the inspection window.
- Typical timing: Often 5 to 14 days after contract acceptance.
Financing contingency
- Purpose: Buyer must obtain lender approval or commitment. Allows cancellation if financing is denied.
- Typical timing: About 21 to 45 days, depending on loan type and lender.
Appraisal contingency
- Purpose: Price must appraise to support the loan. If it appraises low, parties may renegotiate.
- Typical timing: Often completed within the financing period, usually 1 to 3 weeks after the appraisal is ordered.
Home-sale contingency
- Purpose: Buyer’s purchase depends on selling their current home.
- Typical timing: Highly variable. Sellers often limit the duration and expect proof the home is listed or that a bridge plan is in place.
Showings and backup offers
Showings in each status
- Contingent: Often still shown in Indianapolis, though sellers may limit access to qualified buyers. MLS showing instructions usually state whether showings are permitted and how to schedule.
- Pending: Frequently removed from active showings. Some sellers allow showings only to consider backup offers.
Backup offers in practice
A backup offer is a signed contract that activates only if the primary contract cancels without closing.
- Contingent: Sellers commonly accept backups while the primary buyer works through contingencies.
- Pending: Acceptance of backups depends on the seller and the contract. Many sellers stop soliciting backups once contingencies are cleared.
- For buyers: If your backup becomes primary, be prepared to move promptly, including earnest money and timelines stated in your backup contract.
Marketing while under contract
- Confirm whether your purchase agreement allows continued marketing and backups.
- Listing agents must follow MIBOR rules on status changes and accurate showing instructions. Expect clear notes in the listing about showings and backups.
If a contingency fails: what to expect
- Buyer cancels within the contingency period: Contract usually ends. The seller resumes full marketing and can accept new offers or activate a backup.
- Buyer misses a deadline without an extension: Seller remedies depend on the contract, which may include cancellation.
- Appraisal or financing falls through near closing: Parties may renegotiate price, the buyer may bring more funds, the seller may make concessions, or the buyer may cancel as the contract allows.
- Backup activates: The backup contract becomes the primary when the first contract terminates per its terms. The backup buyer should be ready to proceed quickly.
Buyer and seller checklists
Buyers who see “contingent”
- Ask the listing agent which contingencies remain and the related deadlines.
- Ask your agent whether backups are being accepted and how often backups move forward in similar cases.
- If you love the home, consider a clean backup offer with clear earnest money terms and realistic timelines.
- Keep your mortgage pre-approval current and track the seller’s inspection and financing dates.
Buyers who see “pending”
- Expect lower odds, but ask if backups are being considered.
- Have your agent set alerts for similar homes and neighborhoods.
- Be ready to act fast if the pending deal collapses.
Sellers with a contingent accepted offer
- Confirm in writing whether you can continue marketing and accept backups.
- Use clear showing instructions and keep communication open with the buyer’s agent.
- Track all contingency deadlines and set reasonable time frames to reduce uncertainty.
Sellers who are pending
- Confirm whether any contingencies remain and whether you want to accept backups.
- Limit showings as needed and prepare for closing, including title work, any agreed repairs, and required documents.
Local terms vary. Verify status.
MLS labels are shorthand. Your contract sets the rules. In the Indianapolis market, agents and MLS systems may use different status terms. Ask two quick questions of the listing agent every time you see contingent or pending:
- Which contingencies remain and what are the deadlines?
- Are you allowing showings and accepting backup offers?
Key contract items to confirm
- Exact contingency deadlines in your signed purchase agreement, such as the Inspection Objection Deadline and Financing Commitment Date.
- Whether the contract allows continued marketing and acceptance of backup offers.
- How earnest money is handled if a contingency is exercised.
- Any MLS rules that require a status change at certain milestones in the transaction.
Understanding the difference between contingent and pending helps you act with confidence. Whether you are buying your first home in Marion County or selling a move-up property, the right status strategy can protect your time and leverage. If you want clear guidance tailored to your move, connect with the advisors at Home Strategy Group and request your personalized market consultation.
FAQs
What does “contingent” mean on an Indianapolis home listing?
- The seller accepted an offer, but one or more contingencies like inspection, financing, or appraisal still need to be satisfied or waived.
Can you still tour a contingent home in Marion County?
- Often yes, since many contingent listings remain available for showings, but it depends on the seller’s instructions and the MLS notes.
Should you submit a backup offer on a pending home?
- You can ask if backups are allowed, but odds are lower with a pending home than a contingent one since major contingencies are usually cleared.
How long do inspection and financing contingencies usually take in Indiana?
- Inspection windows are often 5 to 14 days, while financing commitments commonly run 21 to 45 days depending on the loan and lender.
Who decides when a listing moves from contingent to pending?
- The listing broker changes the status based on the contract and local MLS rules, typically after major contingencies are satisfied or waived.
