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Under Offer/SSTC/Sale Agreed definitions

Woby_Tide
Posts: 5,344 Forumite


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
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
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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.Who made hogs and dogs and frogs?
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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.0
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I think they all mean an acceptable offer has been made. I would say only "sold" would indicate that contracts have actually been exchanged.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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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.
Andy0 -
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.0 -
Woby_Tide wrote:... 'Under Offer'... 'Sale Agreed' ... 'SSTC'?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
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You told me again you preferred handsome men but for me you would make an exception.
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