What if a house is under offer

Protection Insurance. Landlord Insurance. Tenant Insurance. Log in to My Move. Register for My Move. About My Move. First time seller guide First time seller Costs of selling your house Preparing your home to sell Getting your house on the market Getting ready for viewings Considering and accepting an offer Explore First time seller guide. First time seller Costs of selling your house Preparing your home to sell Getting your house on the market Getting ready for viewings Considering and accepting an offer.

Considering and accepting an offer Receiving offers on your property can be a very exciting time, but it is always good to keep level-headed to make sure you get the right offer for you. Here are three key questions to ask are: What is the financial position of the potential buyer? What are your buyer's timescales for moving?

Also consider your own position Do you have to move quickly in order to secure your next house? Discuss your considerations with your estate agent who are there to guide you. How much is your home worth? With a network of connected branches across the UK, our Local Property Experts have in depth knowledge of your local market. Book free valuation Book valuation. You might want to know What is Gazumping? Gazumping occurs when a seller accepts an offer to purchase on the property from one potential buyer, but then accepts a higher offer from someone else Find your local branch We have local property experts across the UK See our top tips for selling Find out about our top 6 tips for selling your house.

Contact your local branch. Tags: building inspection Buyer buying property cooling off finance Joe Morabito John Slavkoski pest inspection under contract under offer. Recent Posts Extra How do I find a quality tenant? Search All Posts. Joe Morabito 0. Leave a Reply Cancel Reply You must be logged in to post a comment.

All Rights Reserved. Need help selling or renting in Melbourne or the Bellarine? Requirements that dictate what an estate agent can and cannot do when representing a seller. When buying a property it is is not always as straight forward as exchanging letters to conclude the missives. Usually, buyers will make a conditional offer, this means the sellers can only accept the offer once conditions are met.

An example of this can be an outcome of the results of a survey. The buyer may have certain reservations that need to be addressed before the sale can be completed. Great service from start to finish. The fixed fee enabled me to budget properly and not be hit with any surprise additional cost along the way. Opened my matter very quickly and efficiently to refer on to one of their panel firms of solicitors, who contacted me the same day. Ask us for advice How does conveyancing work?

FREE no obligation Quote. Under offer Under Offer is a term used by estate agents which means a seller has accepted an offer. See can you put offer on STC property The seller needs to weight up the decision which will not only be about price. Market Statistics According to current property statistics, close to 15 percent of all properties sold subject to contract will at some point come back to the market. While a property may already have been indicated sold subject to contract, it may come a time when: The person who bought the property is not impressed with the information that pops up in local searches.

A mortgage application fails to go through forcing the buyer to cancel the deal III. A survey conducted by the buyer or their representatives return back data and information that complicates a mortgage application The Scotland Case One thing to note is that the system used in Scotland is quite different.

Essentially the missives are letters exchanged between buyers and sellers via their solicitors. We have just completed on our house sale and purchase, and despite buyers from hell.

When a house is under offer, another buyer can still make an offer. As the contracts have not yet been exchanged, the sale is not legally binding and so other prospective buyers are able to present the seller with new offers.

When you reach the stage where you exchange contracts , that is when you are legally committed to the sale. Some estate agents may limit the number of viewings on a property that is under offer or Sold STC, but it will still be on the market. According to data by Quick Move Now, The seller will again have to decide whether to accept the offer on the house or continue negotiations.

As it means that an offer has been accepted, both parties will likely want the transaction to conclude quickly. There will be an opportunity for other prospective buyers to make an offer, but as soon as the contracts are signed and exchanged, the transaction will become legally binding.