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What do these estate agent terms mean?

5 replies

Itsrainingten · 07/08/2024 22:00

SSTC /.Under Offer - are they different or interchangeable?
Off the Market - does that mean "decided not to sell", or could it also mean "sold"?

OP posts:
TheHeadOfTheHouse · 07/08/2024 22:03

Off the market = not currently up for sale or rent.

SSTC = sold subject to contract. This means the property has had an offer on it and it’s now going through the solicitors.

under offer = it’s the same as above to my knowledge

caringcarer · 07/08/2024 23:14

Under offer means the seller has been made an offer or several offers but may or may not have decided to accept any of the offer/offers. At this point it is usually still possible for others to view the house and to make their own offer.

SSTC means the property has had an offer on it and the seller has accepted that offer. At this point both the seller and the buyer appoint a solicitor and usually no more viewings are offered on the property. Most buyers stipulate their offer is subject to no more viewings while the purchase proceeds to exchange of contract and completion.

EoC is the legal part that means once you've exchanged contracts agreeing to purchase at set price you can't change your mind without legal penalty. EoC is often 1 week before final completion.

Flubadubba · 07/08/2024 23:29

SSTC mean slightly different things, but are often used interchangeably tbh. Cam vary a lot.by agent.

Twiglets1 · 08/08/2024 06:48

I would take SSTC & Under Offer to basically mean the same thing. The property is sold but the sale has not yet reached its conclusion (Completion).

Off the market I think is usually the vendor has decided not to sell at this time so has withdrawn the property.

Tupster · 08/08/2024 08:54

In my experience Under Offer and SSTC can vary by estate agent. Some use one or the other once a sale is in progress, but I've also seen Under Offer used for the immediate time when an offer has been made but memos of sale not yet issued, then change to SSTC when the legal services are engaged. Of course some estate agents won't bother updating a listing once the sale completes, so some properties can still pop up on property sites as SSTC when they are actually Sold, so it's best to take them as pretty loose terms that just mean the property is no longer available.

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