Is there a time limit on how long a real estate sale contract can be pending?
by 
janwhich1960
ANSWERS: 4
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I am going to go with 30 days
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I'm not sure exactly what you're asking. If you're asking how long is allowed between signing the Contract and the agreed upon closing date, then ANY duration is fine as per the Contract. If you're asking how long PAST an agreed upon closing date a Contract needs to be honored, in North Carolina, it's 30 days. If a buyer/seller does not close within 30 days past the Closing Date, the delaying party must close or lose the deal. And then.. they can be sued for "specific performance" which mainly helps the "victim" party with any costs or situations incurred due to the other party's inability to close.
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Please check with you local MLS. Each regional MLS has its own rules, but due to abuses, our regional MLS just cracked down. A listing shall be set to Pending within 24 hours of the executed Purchase Agreement (unless additional offers are being accepted) and shall be changed to Sold within 24 hours of the projected closing date. You may take as long as you like to close the transaction, however.
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Yes this is in the time is of essensce clause of most states.
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