To sell a house when a home loan approval is pending, prioritize securing pre-approval, price competitively, disclose the loan status transparently, and prepare a backup plan. Work with a real estate agent to market the property effectively while maintaining open communication with the buyer and lender. If the loan falls through, consider renegotiating the sale terms or transitioning to a rent-to-own agreement.

Securing pre-approval from a lender before listing the house is critical, as it builds buyer confidence and accelerates the process. According to the National Association of Realtors (NAR), homes with pre-approved buyers sell 20% faster than those without. Pricing the property 3-5% below market value can also offset potential delays, as noted by Zillow’s 2023 report, which found that competitively priced homes in competitive markets experience fewer financing issues. Transparently disclosing the pending loan status is legally required in many states and avoids future disputes, per the Consumer Financial Protection Bureau (CFPB). If the loan approval fails, a backup plan like a rent-to-own agreement can mitigate losses, as 15% of sellers in the National Association of Home Builders’ 2022 survey reported using such strategies to recover costs. Proactive communication with all parties ensures smoother transactions and reduces financial risk during uncertain loan processes.