Offer not yet accepted but the EA put the property as “under offer”

putopao

Hi,
i made an offer in the property and they has not responded to us if our offer has been accepted by the seller or not. When I went in their office to see the EA, I accidentally had a glimpsed in his computer that says my name on it ,my offer and the property alongside other properties with the name of who offered and the amount.  Therefore,I know that the “under offer” in the market for that property was pertaining to my offer, however, the seller has not accepted nor rejected my offer. Why would they put under offer in the market if they have no plan of accepting my offer? What could be the meaning of it? Is it bad news or good news for me? One week has passed, should i wait more? 

[Deleted User]

Marketing. 

It shows that the agent is taking offers for properties rather than leaving them sitting doing nothing 

Thrugelmir

Only an internal database to track activity on the property. In selling my late mothers house a couple of years back. I received a print out once a month listing this type of information. Including the offers that we had declined. 

putopao

Hi , now the property in their company’s website has an “sale agreed “ on it. Should I ring them tomorrow and ask if there is any update on my offer already? 

putopao

In rightmove it says sold STC on it. Now i’m confused. 

Doozergirl

I don't what answer we can possibly

provide.  This is between you and them.

They probably open at 9am.  Ask them!  

AdrianC

putopao said:

In rightmove it says sold STC on it. Now i’m confused. 

"Sold STC" is the same as "under offer". Both mean "there's a sale in the throes, but it's not completed yet". Both are nothing more than marketing.

It may well be that the vendor has accepted your offer, and there's been a breakdown in the communication to you. But no offer is really accepted until the memorandum of sale is issued, and no sale is anything but tentative until exchange of contracts.

putopao

Thanks. Our offer has been accepted but the EA is not really helpful. He has not replies to any of my emails aside from saying that my offer has been accepted. I want to process this quick but seems the EA is going to give us a problem. 

Thrugelmir

I doubt the EA is going to cause you delays. What are your vendors plans? 

ejc81

putopao said:

Thanks. Our offer has been accepted but the EA is not really helpful. He has not replies to any of my emails aside from saying that my offer has been accepted. I want to process this quick but seems the EA is going to give us a problem. 

Do you have your own solicitor to deal with the sale?

As long as you have a reliable conveyancer (and so does the seller) then all you actually need form the EA at this point is a memorandum of sale which will be sent to your solicitor from the EA. If it's a larger EA/franchise, they will usually have another department dealing with processing the sale once the sales memo has been issued, and with a bit of luck you shouldn't need to be concerned about the agent that you've dealt with so far any longer.

In most cases it's in the EA's best interest to get the sale through as quickly & smoothly as possible as they generally don't get paid until the sale completes. Again, this all depends on the selling agent. If it's one of those pay as go 'No commission' EA's then don't hold you're breath. They get paid upfront for advertising, so therefore don't need to concern themselves with the actual sale process. Risky strategy......

AdrianC

putopao said:

Thanks. Our offer has been accepted but the EA is not really helpful. He has not replies to any of my emails aside from saying that my offer has been accepted. I want to process this quick but seems the EA is going to give us a problem. 

What else are you expecting the EA to do? Once you've given your solicitor details over, then memorandum of sale should be issued, then the EA's job is done...