What's the difference in Contingent and Pending?

You may notice a couple different "Status" names, the ones used in the Triangle Multiple Listing Service are Contingent and Pending.  

Contingent:  This status is used at the time of Contract Acceptance.  Meaning once the checks are handed over to a Seller, it is official... the home stays in the Contingent status until Due Diligence has expired. 

Pending:  After 5:00 PM on the Due Diligence Date, the status is manually changed by the listing agent to Pending.  This signifies that the Due Diligence Period has ended and is moving forward to Closing.  

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