Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Property/DIY

Join our Property forum for renovation, DIY, and house selling advice.

When an offer has been accepted how soon should RM be updated?

19 replies

Sssloou · 27/05/2021 12:52

It’s been a week - doesn’t say under offer yet.

OP posts:
Subbaxeo · 27/05/2021 12:54

Has memorandum of sale been issued? Some don’t mark it as sold until survey booked.

secretburper · 27/05/2021 12:56

It seems to be up to a week here

Didicat · 27/05/2021 13:15

We were asked for proof of funds before it went to under offer on Rightmove.

Livingintheclouds · 27/05/2021 13:23

Annoyingly some don't until you've actually exchanged! I asked why and got 'we encourage family and friends to look'. I'm not sure what that has to do with anything. I know as a buyer it is very frustrating to call about a house to find it's under offer and no viewings!
I'm buying a house through Dexters and have had survey done but it is still on the active page on rightmove.
However on my sale, the board outside and rightmove got changed the next day!

Sssloou · 27/05/2021 13:37

Ahh OK was just hoping that they weren’t hoping for another flurry of viewings over the Bank Holiday Weekend....

OP posts:
maybeshesawomble · 27/05/2021 13:45

When buying I’ve always made removal of the marketing a condition of the offer. Worth asking the EA. When DH & I bought our first flats MIL even rang the EA to request a viewing and check they said it was under offer!

Conversely we are now selling and have asked the EA not to make the property as under offer until exchange as our buyer has been a bit unreliable.

PurBal · 27/05/2021 13:56

Ours was at the point the memorandum of sale was issued. Did you ask the EA to take it off the market? Many don't do it as a matter of course.

Andthenanothercupoftea · 27/05/2021 14:38

Our EA took ours down faster than we could blink! And the board changed to sold on the same afternoon.

Dogsandbabies · 27/05/2021 15:10

I had to hassle the EA to set ours at Sold STC. It is also still on RM as Sold STC and we moved in over a month ago!

Subbaxeo · 27/05/2021 15:26

I got so fed up the times I enquired about a property only to be told it was under offer!

lazyakita · 27/05/2021 15:40

With ours (sale and purchase with same EA) it was a few days. It coincided with proof of funds being produced in order for the memorandums of sale to be drawn up.

eurochick · 27/05/2021 15:48

I make it a condition of the offer that it come off RM etc. Otherwise you could spend thousands on surveys and legal fees only to be gazumped.

flashbac · 27/05/2021 17:32

@maybeshesawomble

When buying I’ve always made removal of the marketing a condition of the offer. Worth asking the EA. When DH & I bought our first flats MIL even rang the EA to request a viewing and check they said it was under offer!

Conversely we are now selling and have asked the EA not to make the property as under offer until exchange as our buyer has been a bit unreliable.

I don't see why it's not better to relist instead? It makes your house seem like nobody wants it if it's still marked as available when it's not and its frustrating for people newly looking. If it falls through the EA has already turned people away who won't be ringing up about it again.
RolloTomassi · 27/05/2021 21:07

For both my sale and purchase it happened the same day as offers agreed (proof of funds and solicitor deets etc had been provided).

ginfuelled · 28/05/2021 11:13

I had offer accepted yesterday, agent has accepted all my documents and is SSTC on Rightmove this morning.

WombatChocolate · 28/05/2021 11:34

It’s not unreasonable to expect to have to provide documents to show you are porceedable such as mortgage in principle and evidence of deposit. Usually a memorandum of sale won’t be issued until these are shown and identify checks done.

As someone buying, ensure you have all this ready and printed to hand over and take it in on the day your offer is accepted. Delays can result in the property still being shown and another offer accepted....fair enough in my view, until the point memo of sale is issued because all paper work has been shown that you’re proceedable. You’d be amazed how many people make offers and aren’t proceedable....,haven’t even applied for mortgage, haven’t got a deposit or haven’t got. A buyer on their own property etc etc. As a seller you wouldn’t want your property taken off the market if the person offering is one of these unporceedable people who go around making random offers they can’t follow through on. Therefore, as a serious buyer you just have the evidence ready and he and it over ASAP if you expect to be taken seriously and to have the property marked as SSTC or Under Offer.

As a buyer, it also makes you look more serious and more likely to get viewings or have your offer accepted if you can tell the agent that you have the mortgage in principle, have a buyer and have your documents ready to show these things, plus proof of funds.

Basically, buyers need to do themselves a favour and strengthen their position with this documentation. Too many are clueless and not ready with the paperwork and then wonder why their offers aren’t taken seriously or the property remains on the market and a higher offer or different seller is accepted, even when they make a lower offer. Being porkceedable and a serious proposition is worth a lot and people will often accept less to have someone in that position who is likely to complete, rather than a time waster who will be dropping out in the next few weeks when they can’t get a mortgage or realise their savings aren’t big enough for deposit etc etc.

WombatChocolate · 28/05/2021 11:38

And in my experience, if you hand in your documents on the day of offer accepted, including name of solicitor and all the stuff about who is buying yours (if you are selling too) it can still take a week to issue memo of sale. The EA needs to check a few things and ensure they have all the info for both buyer and seller and along the chain.

As a buyer or seller I would far rather an EA does their job thoroughly and checks it all out before taking properties off market or issuing memo of sale. If they do the checks carefully at this stage, proceeding to completion is more likely. Who wants a supposed sale that will then fall through in 2 or 6 or 10 weeks time? But loads do and often this could be avoided with more careful checking at the start and sifting out those who will never be likely to complete.

umbel · 28/05/2021 14:37

Ours was taken off very quickly. Conversely, the glorious property that we missed out on is still not marked STC after nearly 3 weeks. It comes up daily on my Rightmove search and I get a surge of excitement and then a gutting plummet every single time. Wah!

AfternoonToffee · 28/05/2021 19:46

We accepted an offer on Monday, I think Wednesday it was though we didn't particularly check before this. Said we would accept the offer and take it off the market. Fingers crossed it is smooth from here. (Probate sale)

New posts on this thread. Refresh page