Under offer, can I bid on it?
Can I bid on a property if it says under offer?
Asked on Feb 9 2013,
General in London |
The term under offer is one that is largely the same as sold subject to contract (STC), so it means that someone has made a formal offer on the house and had it accepted. By now, the lawyers will be working together to draw up contracts and iron out all the details.
Normally, at this stage, the buyer will have stopped showing the property to prospective buyers because they have already agreed to sell to someone else.
However, there is no reason that you cannot still make sure that you are keeping an eye on proceedings. With the difficulties that are still inherent in the property market, there are a number of different things that can halt a purchase and make it fall through, so being ready to step in with a new bid if this happens can be a good way to make sure you do not miss out again.
Answered on Feb 12 2013,
Yes, you can bid on a property if it is under offer and the estate agent is duty bound to submit the offer to the client.
We hope this helps.
Answered on Sep 24 2013,
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