In our MLS. that means that a contract has been accepted and is binding. The buyer has paid for an option period so they can have inspections done and back out if they feel they need to. That option to back out is what they call option pending. In some areas they call it pending with no mention of the option and in other areas they call it active option (but there is still a binding contract in place)
by glenn - an hour ago
It usually means that the tenant/occupant has a lease option and they have not decided to exercise the option yet- if they do, the property is sold to them under the terms of the lease option, if they decline to exercise the option, the owner keeps their original option fee and the property is available to other buyers at current values.
by BrokerPro - an hour ago
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