Sold STC back on the market, will estate agents say why if asked?

rdp1980

breadlinebetty wrote: »

SOLD STC usually only go on AFTER exchange. But you'd know wouldn't you? Being up in wee bonnie Scotland.........:D

Since when was Devon in Scotland?

I think you have misuunderstood his post. Most of it was referring to England and he added a bit that Scotland may be different.

BizzleBozzle

breadlinebetty wrote: »

Well in that case then you should tell your estate agent to remove the board. The house is NOT yet sold, and that board will prevent any passing prospective buyers from enquiring about your place. Your estate agent must be an idiot.

No I don't think he is! In my area this is how it is - my buyers house has a sold sign outside and so does my vendors. The money saving thread about buying houses actually advises that one of your conditions when making an offer should be that a Sold sign goes up within 48 hours.

Don't wish to hijack thread so sorry OP!

I think you have every right to ask and is worth doing but as others have said be aware you may not get an honest answer.

Davesnave

rdp1980 wrote: »

Since when was Devon in Scotland?

I think you have misuunderstood his post. Most of it was referring to England and he added a bit that Scotland may be different.

Thanks.:) It was just a copy & paste from Rightmove. I left the Scotland bit on the end because I happen to be half Scottish, and I think they do things better up there!*

*they can keep the midges and their weather though!

fannyanna

It's very common (actually I would say normal) for a property to be classed as sold subject to contract once an offer has been agreed. Because that's exactly what it is.

Lavendyr

breadlinebetty wrote: »

Well in that case then you should tell your estate agent to remove the board. The house is NOT yet sold, and that board will prevent any passing prospective buyers from enquiring about your place. Your estate agent must be an idiot.

Seems to be common practice. Two houses both under offer in our street, have NOT exchanged yet - both with "SOLD" signs up.

arbrighton

breadlinebetty wrote: »

Well in that case then you should tell your estate agent to remove the board. The house is NOT yet sold, and that board will prevent any passing prospective buyers from enquiring about your place. Your estate agent must be an idiot.

No, this is what happens. Our house, once offer was accepted had sold sign (with stc in small letters) on it, to indicate that viewings etc would not be happening. Sale fell through, 'sold' came off and round we go again.

phoebe1989seb

Lavendyr wrote: »

Seems to be common practice. Two houses both under offer in our street, have NOT exchanged yet - both with "SOLD" signs up.

Same with us.......as far as i remember on all the occasions we have sold - 5 (4 in Hampshire, 1 in Essex)..........

callmechar

breadlinebetty wrote: »

SOLD signs are not put up until after exchange, and exchange never takes place BEFORE a survey has been carried out. It just wouldn't happen.

If the buyer was taking out a mortgage, the bank would INSIST on a survey before exchange, and if a cash buyer was purchasing they'd still not put a SOLD sign up until after exchange - and I can't imagine any cash buyer (who would clearly be flush!) buying a property without having a survey done!

The only thing I can think is that the buyer suddenly had a change of mind, in which case they would have lost a considerable amount of money! That's the whole point of exhange - so that people can't renege on their offers as they'll lose HEAPS of money!

So given how much money they'd lose pulling out at such a late stage, I'd take a guess that in between exchange and completion, the buyers solicitor discovered some kind of bad debt against them, and the bank withdrew their mortgage offer. Serious muck if that's the case!

There is a sold sign outside the house I am buying!

advice_please_2

thanks all

well the house i'm refering to if i remember rightly was put on rightmove mid week and had STC by the following monday. nice house, ticks a lot of boxes, location, schools etc. so surprised it fell through etc.
but yeah a lot of variables

breadlinebetty

Well for all the people who are allowing agents to put up SOLD signs - on the request of some person whose only made an offer - more fool them! Talk about counting your chickens before they're hatched and allowing the person whose only put in an OFFER to cut out all other interest!

Sounds like the owners of the house that the OP was referring to wasted precious time (and possibly lost SERIOUS buyers) on account of some ninkampoomp making demands!

So there's your answer more than likely!