What does 'Under Offer' mean?
Under Offer
When someone has made an offer on a property and the vendor has agreed to the price put forward the property is known as 'Under Offer', and also as 'Sold Subject to Contract'. Note that at this time there is nothing binding between the buyer and seller except their word so it is fully possible to make an offer on a property that is under offer and gazump the original buyer.
Search Results for 'under offer' in How to Really Buy a Property
Chapter 18:
The Balance of Power
"...Three weeks previously the people who owned the flat upstairs from the property in question had approached the vendor and offered him the full £205,000 so that they could change the building back into one whole house. The vendor had done the honourable thing by telling them that he was already under offer and would not back out of an agreement he had already made.
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Chapter 23:
Why Vendors Choose Bad Estate Agents
"...Another agent may have different applicants - If you have instructed at least two good agents the chances of a third agent actually having someone different are pretty remote. Many vendors change agent simply for peace of mind that they are actually doing something. In reality if you go under offer quickly this is more luck than anything else.
..."
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