What does it mean when you put in a offer and they say your offer is "pending and under review"?

My friend asked me what "pending and under review"want when her and her husband pit in an offer on a foreclosure property. The price was $98,000 and they offered the amount listed the first time ...the house is needs rehab....and then the listing agent asked them if they wanted to put in a higher bid 2... show more My friend asked me what "pending and under review"want when her and her husband pit in an offer on a foreclosure property. The price was $98,000 and they offered the amount listed the first time ...the house is needs rehab....and then the listing agent asked them if they wanted to put in a higher bid 2 days later so they offered $102,000. Its been 5 days and she didnt hear nothing back from the losting agent. The other day He told her that it will be a few days. So My friend called the company who is listing the home and they said that " her offer was pending and under review". They didn't say that she was rejected. So what does it mean.
10 answers 10