"under offer" advise required - Buyer

victoria_smith87

Hi there,

I've trailed through the forums and cant quite find what i'm looking for.

We've put an offer in on a house £1k below the asking and the sellers have accepted this offer (we now going through all the paperwork and solicitors etc). I've just looked on the EA website and they've marked it as "Under Offer". What exactly does this mean? does it mean that people can continue to put in offers for the house?

many thanks

Vicky (a VERY impatient buyer )

poppysarah

1k under asking? wow you're very impatient!

It means they're taking your offer seriosly.

You organised your mortgage etc yet?

victoria_smith87

Well don't get me wrong that wasn't the first offer.

the offer was accepted over 2 weeks ago and we're going through the process of the mortgage (getting the valuation done this week APARENTLY) i don't have much hope though the way the mortgage advisor is.

I've read numorous things though, saying "under offer" means its still open to offers and also that someones made an offer but it hasn't yet been accepted so i was getting alittle worried.

googler

Typically, where I'm from, accepting an offer carries the unwritten obligation that no further viewings are carried out, and no other offers accepted, unless the accepted one is withdrawn - however, I'm in Scotland, and things are different in England and Wales, so;

If they're keeping it open to offers having accepted yours, and if they're working to the codes of practice outlined by TPOS and NAEA, they should have notified you in writing that they're doing so.

Para 6d HERE for the TPOS code

Why not ask them exactly what they're doing instead of speculating here....?

betmunch

Under Offer does not mean another person cannot offer on the property.

When making the offer did you state that it was conditional on the house being taken off the market?

If you did then you should be fine, although even then if an offer is recieved the EA has to put it forward. If the house is off the market then there should be no further viewings which makes new offers highly unlikely.

Best option would be for you to call the EA and ask them if the house is off the market now you have had your offer accepted.

victoria_smith87

thanks to all of you for your advise, i was asking on here first just incase i was being OTT and worrying for no reason, but i think i'll just contact the estate agents and find out in their book what "under offer" means

vicky

mark5

With your purchase price only £1000 below asking price I cant see you getting gazumped anytime soon!

tyllwyd

And have a look at the responses here ...

https://forums.moneysavingexpert.com/discussion/2599483

Slinky

I thought for a minute you might be our buyer (seeing as I haven't met them!). We accepted an offer £1K under asking and our flat is showing as under offer on the EA's website (EA's decision, not ours). We wouldn't be taking other offers unless our buyer starts showing signs of cold feet.

skintchick

Round here under offer means they won;t show it to anyone else, although I suppose it doesn;t stop people who had already viewed making an offer, but usually it means 'this is a done deal'. Relax.

Jojo1daffy

If an offer is accepted then other interested parties are advised that the house is now off the market. The 'Under offer' sign should go on the board once the survey is done and the buying price is finalised.