Property suddenly taken off RM, etc.

jjlandlord

Up to now I was holding the assumption that once an offer as being accepted on a property, the agent will e.g. put up a SSTC board and update the property status accordingly on RM, etc.

Now, I have just come across a property which listing was just suddenly removed.

Is that usual?

googler

The owner took it off the market?

celyn90

Maybe it was a condition of the buyers offer that all marketing was stopped and the property was removed from on-line portals? Or it was SSTC but they forgot to update it at the time and just pulled the ad once it had been sold?

firstaspect

It varies, sometimes properties get updated to SSTC, sometimes just get removed. Or the vendor may have chosen to take the house off the market for other reasons.

Contessa

This is something which puzzles me. I look at RM daily and have many houses in my "saved" folder. If they have been on the market for several months I think there is still hope for me to buy them when my own house is sold. Then they are withdrawn! I find RM useful in keeping track of the housing market, but this is frustrating as I then have to wait a few months for the LR data. It's also interesting to see that some houses are under offer, then become available. Sometimes quickly, sometimes more than once. What's going on?

KateLiana27

House disappearing - most likely removed from the market because the vendor has decided not to sell after all. May be people who were selling for divorce who have reconciled; found a local job so no longer need to move; disappointed with the offers received so decided to rent it out instead and try their luck when the market picks up. That sort of thing.

House under offer then available again - offer fell through. Technically "under offer" just means they have received an offer that they are considering - sold STC is when an offer has been agreed (though not all EAs use these terms as they should). So you see how a house could be under offer at 9am and then off again by 5pm.

But to know for sure, just give the EA a call.

ash28

Contessa wrote: »

This is something which puzzles me. I look at RM daily and have many houses in my "saved" folder. If they have been on the market for several months I think there is still hope for me to buy them when my own house is sold. Then they are withdrawn! I find RM useful in keeping track of the housing market, but this is frustrating as I then have to wait a few months for the LR data. It's also interesting to see that some houses are under offer, then become available. Sometimes quickly, sometimes more than once. What's going on?

A house near us went under offer 3 times and the 3rd time it sold - new people moved in about a month ago. I guess the potential purchasers either couldn't get the finance or couldn't sell their own house.

Our neighbour's house had been on the market for about a year - it needs updating (polite), they have no mortgage. They had several offers but turned them down as they weren't what they wanted. The for sale sign came down this week and it was removed from Rightmove. I haven't seen her yet - but when I do I'll ask her why they have decided not to sell. They would like to downsize - kids all flown the nest.

My sister & her OH have just put their house on the market this week - opposite end of the country to us - she said they will give it 6 months and if it doesn't sell - they will stay where they are - they are mortgage free too and want to downsize as their kids have flown the nest - but they like our neighbours have a price in their minds.