Under Offer/SSTC/Sale Agreed definitions

Woby_Tide

Looking at some of the online portals and they all seem to have differing status' that they apply to properties, also when seeing sale boards in gardens they often have them to.

What would you class as 'Under Offer' as opposed to 'Sold subject to contract', i.e. is Under Offer meant to imply someone has offered but they are willing to accept other offers, or is it implying that it's had offer accepted subject to sactisfactory survey when it will become 'Sale Agreed' or 'SSTC'? All agents seem to use different terms

bylromarha

i assume they're all the same, though i guess if you're really interested in a property then it's worth giving the EA a ring for the state of play no matter what the board terminology is.

JennyW_2

I think SSC means than an offer has been accepted and when it's Under Offer, I think this means they've gone one step further and a survey has been carried out. Not sure but when I check the website my house is on, this seems to be the pattern.

silvercar

I think they all mean an acceptable offer has been made. I would say only "sold" would indicate that contracts have actually been exchanged.

AndrewSmith

These are the definitions used by the majority of agents, however some newer or less experienced agents use them out of context.

Under Offer = an offer has been received which the vendor has accepted, but the purchaser cannot proceed (ie needs to sell etc).
SSTC = offer accepted, proceedable and the legal process is underway. Usually off the market and not accepting further offers. Contracts not necessarily exchanged.
Sale Agreed = is a kid of hybrid of the above two.

Andy

JennyW_2

I would say only "sold" would indicate that contracts have actually been exchanged.

:rotfl: not a chance where I live. SOLD goes up as soon as an offer is accepted.

BobProperty

Woby_Tide wrote:

... 'Under Offer'... 'Sale Agreed' ... 'SSTC'?

Small add on sign used by estate agents to make it look like they are shifting property.