Under Offer

mac123

Silly Question but need to know!!

When looking for a property, what does 'UNDER OFFER' mean.

Does it mean an offer has been made or offer accepted and awaiting contract? Does this mean I can still make an appointment to view a property and possibly make an offer myself??

Cheers

empy

Hi, underoffer means that the property is sold subject to contract, just another way of saying the above.

You can ask to view the propertie, but most estate agents will say no. But the property been sold subject to contract does not mean that further offers cannot be made, as they can right up untill contract are signed and exchanged, this is where the problem of gazumping comes in.

HTH.

F_T_Buyer

empy wrote:

Hi, underoffer means that the property is sold subject to contract, just another way of saying the above.

You can ask to view the propertie, but most estate agents will say no. But the property been sold subject to contract does not mean that further offers cannot be made, as they can right up untill contract are signed and exchanged, this is where the problem of gazumping comes in.

HTH.

I'd disagree. I would say 'sold' means it is sold subject to contract. I would expect 'under offer' mean an offer has been made, but not yet accepted.

Dan29

I agree with empy. It's not Sold until contracts have been exchanged.

F_T_Buyer

Dan29 wrote:

I agree with empy. It's not Sold until contracts have been exchanged.

The problem with that is why does lots of properties come back onto the market when advertised as sold?

I assume the OP is refering to websites such as rightmove, where it says sold. They really mean sold subject to contract.

Dan29

Yes I agree that 'Sold' means 'Sold subject to contract' in that context. However I was agreeing with empy that 'Under Offer' is another way of saying the same thing.

missey_2

i always thought sold meant offer accepted but either subject to contract or contract signed and under offer offer not yet accepted.

My pad is on rightmove as sold and contract has not been signed.

lilyann1

Different EA's round here use different boards.Some will say Under offer when it's got an accepted offer but subject to contracts.Others will say Sold STC.They both mean the same it's got an offer which is proceeding but it is subject to contracts being signed.
Most EA's will not let you view the property but it is worth contacting them as if it falls through generally after the survey or abilitly to get a mortgage then you might get notified that you can view it.

terrierlady

around here the sold sign has a disclaimer underneath which states subject to contract so as the poster above states this means different things in each area but normal to say an offer has been made and accepted and the sale process has started IE searches applied for, survey arranged and mortgage applied for.
Worth putting your name down with agent if you like the look of or another home in the same road or area comes up for sale or this one on resale.