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

Strapped

breadlinebetty wrote: »

Davesnave dear........

What's wee bonny Scotland got to with the question? The OP didn't even mention Scotland! Scotland, as we all know, is quite different to England as far as property selling goes, and it's also falling in value at a tremendous rate in comparison to much of England.

There. Now you can ask me what all THAT'S got to do with this thread?:D

SOLD signs only go up once exchnge has taken place - round my way, anyway! Prior to EXCHANGE OF CONTRACTS they occasionally put up signs saying UNDER OFFER.

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

This poster is incorrect.

"Sold STC" means an offer has been accepted ie a sale has been agreed subject to contract. "Subject to" means "dependent on" ie BEFORE contracts have been finalised.

Of course, what would I know. I only used to work in an estate agents and book the man to put the signs up (and hey I'm even in England)

Strapped

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.

Maybe, maybe not, but I expect he deals with ones like you every day.

Fortunately, most intelligent people (the ones you'd want to transact with) can work out what "stc" means.

anggrrr

Previous estate agent I had made an offer with placed a sold STC sign up conditional on a survey being done in the next 2 weeks. Unfortunately my own sale fell through so I then pulled my offer. Estate Agent then rang me regularly for months offering to find a buyer for my house, reduce the price, etc.

I've taken my current house off the market due to an offer because potential buyer asked and I'd already instructed agent to take it off. It hadn't moved in 12 months and the market is stalled locally so I was planning to rent it out. I'm not convinced that this buyer is going to go to completion but then it suits me as 6 more months here would help (my potential purchase is stalled by that old classic, lost deeds).

BizzleBozzle

breadlinebetty wrote: »

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!

The point is Betty, it's all done on trust until exchange. Before the board went up, my EA was in touch with my buyer's agents to make sure they had an accepted offer on their house and he contacted their mortgage broker to make sure their deposit was in place and their mortgage application was on track. The board shows my buyer my good faith that I won't let him go to a lot of expense in legal fees and survey and all the while be showing the house to others who may offer more money for my house and pull out at the last minute.

In turn my vendors are doing the same. Buying and selling houses is stressful enough as it is. Frankly in this market (apart from in London maybe) only rich idiots or those not really interested in selling would refuse a serious buyer's request to put up a SSTC board. I certainly wouldn't be buying from them and I suspect nor would most others!

Davesnave

BizzleBozzle wrote: »

Frankly in this market (apart from in London maybe) only rich idiots or those not really interested in selling would refuse a serious buyer's request to put up a SSTC board. I certainly wouldn't be buying from them and I suspect nor would most others!

Before I came to Devon, I lived in a conservation area where 'For Sale' and 'For Rent' boards weren't allowed, and the agents generally respected that. Houses were still bought, sold and rented.

Now we have the Internet, I think a country wide exclusion zone would be a great idea, especially for those living in blighted areas, such as Birmingham Selly Oak, where they are a permanent and very prominent feature of the urban landscape.