'Under offer' on Rightmove...

sherrybaby

We accepted an offer on our house just before christmas and also had our offer accepted on the one we want to buy. Our current house is now listed on Rightmove as SSTC but the one we're buying is just listed as 'Under offer'. They're both on with the same estate agent.

Can anyone tell me what the difference is? To me, SSTC feels more like it's off the market than 'Under Offer', which might invite further offers? Should I be calling the estate agent to change the how it's listed or does it not matter? Incidently both ourselves and our buyer are at the same stage of the process, ie, mortgage approved subject to valuation which should happen some time later this week.

Thanks for any advice.

maninthestreet

Regardless of how the EA describes it, until contracts have been exchanged, either party can pull out with no penalties whatsoever.

tyllwyd

There are two different definitions of 'under offer' and 'ssct' on Rightmove, but when I asked a similar question a while back (sorry can't find thread) the response was that EAs use both to mean the same thing.

sonastin

Might be as simple as different people in the EA's office have different preferences and one puts SSTC when they do the updates, another puts "under offer". In reality it makes very little difference to the grand scheme of things. There may be subtle differences in definition or psychology of the 2 terms but they both mean "someone has put dibs on this place. if you really like it, get in quick. if you're not that bothered, move on to the next property on the list".

sherrybaby

Thanks for all your replies. I think as Sonastin said it's the pyschology part. SSTC to me says to other buyers 'Hands off, it's mine!' whilst under offer indicates 'come and Gazump me!'!!!

johnthebar

The EA I'm buying through said that they only put SSTC on the property when you start proceeding with the sale ( i.e. get a survey done) as they need to see some action to show that you are serious.. This probably varies between EAs though.

tyllwyd

johnthebar wrote: »

The EA I'm buying through said that they only put SSTC on the property when you start proceeding with the sale ( i.e. get a survey done) as they need to see some action to show that you are serious.. This probably varies between EAs though.

Do they list it as 'under offer' first, or do they just continue marketing it as before?

johnthebar

My offer was accepted on Friday afternoon, the survey was booked in yesterday and is happening today, so there wasn't much time or need to change it to under offer. It just went straight to SSTC this morning.

DizzyDasher

If it's any reassurance, when we started looking there was nothing that we wanted available to view, so we contacted a few agents with interesting looking things sold, SSTC or Under Offer and asked them to let us know if anything similar came up. None of them offered to show us an Under Offer or SSTC place.

Unless something is going wrong with a transaction I reckon most agents would much prefer the "bird in the hand" than getting a tiny bit more commission at the risk of tearing up the whole chain, setting everything back, and possibly replacing a buyer who is clearly proceeding with one who turns out not to be in a position to do so (or just to be an awkward so&so).

Gwhiz

OP - trust me, it makes no difference at all.

They can put "Off the market, gone to a good home, get lost anyone interested" for all I care but still, until exchange, anything can happen.

80schild

My own house is on rightmove as SSTC but the one we are buying is still 'under offer' even though we are almost at the exchange of contract stage. I think sometimes the estate agents update their own website but not right move as I notice a hosue a rung up about ages ago and was told it had just had an offer on is still on rightmove as 'under offer' and it must be sold by now