In this article, we'll define what the Pending status of an offer means and how to verify the offer.
Question:
What does a Pending status mean, and how do I verify an Offer?
Answer:
If the offer status is "Pending", it means the offer has been submitted by a buyer's agent for the listing agent to review (click here to review all Offer Status). The Offer Details slide-out will give you the option to "verify" the offer, which places the offer into the negotiation within Openn Offers and becomes visible on the Timeline. Once the offer has been verified, all participating parties will be notified that a new buyer has submitted an offer.
Steps to verifying an offer
As offers start to roll in, you'll see a red notification on the Offers tab to indicate the number of offers that need verification. In the example below, there is one (1) offer needing to be verified as indicated by the Pending status. To view more details about an offer or take action on an offer, click on the arrow to reveal the slide-out.
2. Once you select the arrow in the illustration above, the Offer Details slide-out will appear, where you will see a summary of the offer terms and the buyer agent's contact information. You will also be able to review all of the documents uploaded on that offer. Depending on where the offer stands, the offer details will slightly vary, as shown below.
Upon reviewing the offer, click on Verify to which a confirmation box will appear.
Once confirmed, the Pending status offer will change to Verified, the offer will now show up on the Timeline and all participating parties (including Observers) will be notified that a new buyer has submitted an offer.
Should the need arise, you can also request the buyer agent to "Resubmit" a Pending offer. This option is typically used if the offer is missing important details and there is additional information needed to verify the offer. If you click Resubmit, you'll see the following page, where you'll have the opportunity to share your reasonings with the buyer agent.
