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Under Offer
Lord_Baltimore
Posts: 1,348 Forumite
The term 'under offer' seems to have several definitions on the web:
1. The vendor has accepted an offer and the deal is being formalised;
2. The vendor has accepted an offer but is open to a better one;
3. An offer below the asking price has been received by an EA;
4. Etc.
Is there a reliable definition for the term please? And how does it differ to SSTC?
Some people regard offering on an 'under offer' property as gazumping but is this the case if the offer received is under the marketed price?
Moralistic and business opinions appreciated please!
1. The vendor has accepted an offer and the deal is being formalised;
2. The vendor has accepted an offer but is open to a better one;
3. An offer below the asking price has been received by an EA;
4. Etc.
Is there a reliable definition for the term please? And how does it differ to SSTC?
Some people regard offering on an 'under offer' property as gazumping but is this the case if the offer received is under the marketed price?
Moralistic and business opinions appreciated please!
Mornië utulië
0
Comments
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I think if the offer made is more than the offer that has been accepted already, regardless of whether the new offer is also below the market value then it's still gazumping.0
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I think if the offer made is more than the offer that has been accepted already, regardless of whether the new offer is also below the market value then it's still gazumping.
Ok thanks. So if you were selling at £150k and someone offered you £145k and you accepted, you would not accept an offer the next day for your full asking price because this would be gazumping?Mornië utulië0 -
Under offer = someone's offered to buy the property and the owner might, or might not, sell it to them..................
....I'm smiling because I have no idea what's going on ...:)0 -
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Lord_Baltimore wrote: »And the owner remains open to other offers?
Yep - why not?.....................I'm smiling because I have no idea what's going on ...:)0 -
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Theres an agent near where I was looking to buy, places 'Spoken for' on their For Sale, advertising signs, once somebody has offered.
VB0 -
Lord_Baltimore wrote: »Seems logical...but why are 'under offer' properties left out of Rightmove searches if they are effectively still on the market?
They're not left out......................I'm smiling because I have no idea what's going on ...:)0
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