What does under offer mean?
If a property is under offer by someone else can I still view and make an offer?
Asked on Mar 20 2014,
General in Ross-on-Wye |
Under offer means that a buyer has made an offer on the home, and the seller has accepted this offer. However, they have not as of yet actually exchanged contracts. Normally it means that they are still ironing out the legal ins and outs of the deal and making sure everything that needs to be done is.
While it is highly unlikely after this stage that the house will still be available to buy, there will be some occasions in which the sale will fall through, for any number of reasons. So if you are interested, it can be a good idea to keep an eye on the listing just in case it comes back on the market at a later date.
Most sellers will also not still be allowing viewings at this stage, because they will be expecting to shortly have completed the deal to sell the property, although there may be some who would still allow you the chance to view just in case their transfer of contracts does not run as smoothly as they might hope.
Answered on Mar 25 2014,
I've recently answered a question on a topic that is VERY similar to what you're asking.
Estate agents use a lot of terms for under offer. It could be sale agreed, STC, sold subject to contract, sold, any kind of thing.
Essentially it all means the same thing, that somebody has agreed to buy the property and that the seller has agreed to sell it to them.
Normally at that stage an under offer board will go up on the property, the property will be taken out of the estate agents window and down from the website and portals such as Zoopla, that’s not always the case but normally is.
Of course, there is no guarantee that the sale will then proceed, it could be that up to about 25 or 30 percent of sales don’t actually conclude once they’ve been agreed. So, there is every chance it could fall through.
But certainly sale agreed/under offer, that’s the initial stage of a sale going to it’s completion.
Hope that helps, and good luck.
Jonathan Rolande :-)
Answered on Sep 11 2015,
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