So let me ask this, if you see a listing that says "Under Contract", could that mean that the farm is being leased? I could understand if it was pending due to negotiation of the sale, just did not know what under contract was?
Pending or under contract would mean both parties have signed, and it is waiting to close. Usually it goes through, but once in awhile financing does not work out.
My guess is it is accepted offer waiting on some contingency’s to be met so the closing can occcur. We often list them as pending/continue to show. This helps the seller by keeping some pressure to get the closing done as quickly as possible.
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