Under offer vs Sold?

[overthehorizon]

Is there difference between the two in reality?

Well yes one might still collapse so you can let agent know you would be interested if it did. The other is sold.

Unless you’re talking about the words written on estate agent boards. In which case it’s just what phrase they prefer.

Under offer means an offer has been made and accepted, but contracts haven’t been exchanged yet, ie nothing us legally binding. Sold means contacts exchanged but completion hasn’t taken place. At that point buyer is legally bound to purchase, or lose their deposit.

Some agents just put the sold board up when just under offer (it may say SOLD stc, meaning it hasn’t actually exchanged). But legally sold is when the money has landed in the bank!

This agent generally lists things as sold - just this one is under offer. I'm wondering if they've accepted an offer but the buyer hasn't submitted proof of funds yet... yes I want the house.