You know on Rightmove...

[Snap8TheCat]

What is the difference between 'under offer' and 'sold stc' ?

Thanks.

I think....under offer is when vendor has accepted an offer but pre exchange. SOLD STC is between exchange and completion.

Ours went SSTC as soon as our offer was accepted.

The two houses I am looking at are both part of the same chain. Exchange hasn't happened yet. Offers have only just been accepted on both.

Under offer means someone has put in an offer but not yet accepted or rejected?

SSTC is offer accepted but not exchanged yet

'Under offer' means there are offers on the table but the property is not off the market, so you can still view it and make your own offer. Sold STC means an offer has been accepted and the property is off the market.

Ah ok that makes more sense. Thanks.

Are they not used interchangeably?

Wrong though.

I'm selling a flat and on RM it says under offer. It's not, it's sold.

So they mean the same thing? How odd.

They mean exactly the same thing. They're all interchangeable.

Sold subject to contract; sale agreed; under offer, all the same. Depends on the agent which phrase they use.

Kitty that's not true in England.

^^ what Thick said
Until contracts are exchanged, neither part has made a binding agreement and either the buyer or seller can walk away.
Under offer is a slightly truer version of sold subject to contract.
Once properties are sold i.e. Contracts have exchanged they are removed from RM listings.

Although Rightmove put up fancy words on their website about the difference, it is then down to the efficiency and intelligence of the individual estate agents to properly update their listings to truly reflect the status of each property.

On the basis that you can often find something like a shed advertised as a detached house, or a flat described as a detached house, or a piece of land with planning permission on it listed as a detached house .... you can have little faith in the agents actually updating the status' properly.

If it is still listed as 'Under Offer', this will be to indicate that the sale is not that far along and that offers would still be 'welcome' if higher-even if the Vendor is completely unaware of this and is happy with the offer.

It is why you should always make it clear when making an offer, that it should mean it comes off the market and is not 'marketed ' any further.

If you like something enough, phone and ask.

Kitty where are you getting your information from? It's not correct.

Again. We should exchange tomorrow. It's still on RM as under offer

Kittysorry but that is incorrect.
Properties are for sale
Then once an offer is accepted they are: sold subject to contract, under offer, sale agree, spoken for (yes one agent near us uses that)- all means the same thing.
Once contacts have exchanged they are sold.
There is no change at any other point. What may be different is whether agents are still taking viewings, which is usually driven by the vendor.

Yy monkey you are still under offer - you haven't actually "sold" until contracts are exchanged. Either side can walk away without penalty until exchange. In theory You could accept a higher offer today.

From the horse's mouth:

Under Offer & Sold STC
Sold 'Subject to Contract' (STC) or 'Under Offer' (UO) means that the homeowner has accepted an offer from a buyer but the paperwork is not yet complete. Under offer (UO) is also used by some Estate Agents to indicate that an offer has been made, but not yet accepted.

www.rightmove.co.uk/stc.html

Kitty you're incorrect. In Scotland, you wouldn't get a viewing on a property which is under offer. It basically means "SOLD unless something goes drastically wrong"

I don't think there's any difference, we're sstc on zoopla and under offer on RM...

monkey that's right, you are under offer.

Gosh I didn't realise this would be so controversial

Thanks everyone.

Under offer I'd say usually means the owners are considering an offer and in the process of negotiating with a buyer. Sold subject to contract means the house is more or less sold but not completed.

Under offer just means that someone has put in an offer. Many estate agents don't even bother advertising this, it doesn't really mean anything other than someone likes the property. No offer has been accepted. Also some agents falsely add this to their boards/sales particulars/rightmove to make the property look as though it is attracting interest even if no offers have been made. Sold sstc means that an offer has been verbally accepted and the vendors and purchasers are working towards the exchange of contracts and completion, i.e. Solicitors and surveyors instructed.