What does 'Offer Agreed' mean when buying a property?
Find out what Offer Agreed means when you are buying a property. 'What does Offer Agreed mean?' plus over 150 other property related terms and jargon in plain English
Offer Agreed
When a seller has agreed a price with a buyer you will see or hear the property referred to in one of two ways:
- Sale Agreed
- Offer Agreed
They both mean exactly the same thing but are just being said from two different perspectives - the seller has agreed to sell (Sale Agreed) or the buyers offer has been accepted (Offer Agreed).
Some agents will list properties one way, some the other.
I use the term Sale Agreed in How to Really Buy a Property but every time you see it you can take it as meaning "Offer Agreed" as well.
See a full explanation of Sale Agreed.
Search Results for 'sale agreed' in
How to Really Buy a Property
Chapter 14:
Viewing Properties and Making Offers
"... accepted offer simply means you enter the no mans land that exists between 'sale agreed' and 'Exchange of Contracts'. There is absolutely nothing binding about having an offer accepted so its worth knowing what has to be organised in order to get a more concrete deal. This twilight zone is covered in Part III, From Offer to Exchange but first let's cover how to make offers which get..."
Chapter 15:
How to Really Make an Offer on a Property
"... agents are poorly experienced or badly trained and not even they know how to really put up an offer. But the way you do it and the way you present yourself can make a substantial difference to the final price you pay. Sometimes it may allow you to get a sale agreed at a price the vendor would not previously have accepted, sometimes it may mean the vendor will sell to you and not someone else (even if the other party is offering..."
Chapter 16:
Who to Trust When Buying Property
"... when considering comments made by them, be aware that:
They know the longer the time period between sale agreed and exchange, the more likely the buyer will pull out and you will loose your property. (See The Balance of Power)
They know, if they are experienced, when the surveyor or..."
Chapter 23:
Why Vendors Choose Bad Estate Agents
"... reactions which may be of little benefit.
From a buyer's point of view it will soon become clear how well your agent operates and if they are a disaster zone of poorly motivated and inexperienced staff sale agreed may never make it to completion.
..."
