Quick Answer: Can You Still Offer On A House That Is Sold STC?

Can seller accept another offer after accepting?

Only after the first contract is clearly over can the seller accept the second offer.

A: Offers from other buyers can be accepted by the seller even if the property is under contract.

The seller may or may not be able to break the first buyer’s contract and successfully sell to the higher bidder..

How do I stop being gazumped?

What can you do to avoid gazumping?Act quickly. … Obtain a mortgage in principle. … Find a conveyancing solicitor in advance. … Line your surveyor up quickly. … Get the property off the market. … Get a lock in agreement. … Get insurance.

What is a cheeky offer on a house?

It’s arguable that any offer of more than 10% discount off the asking price could be considered a cheeky offer. The level of ‘cheek’ depends on who the vendor is and how long their home has been on the market. But so long as you’re prepared for them to say no to your offer, it’s worth taking a punt with a cheeky offer.

Can an estate agent tell you about other offers?

Estate Agents can’t legally tell you how much the other offers were for, but they will usually indicate if they were close to the asking price, which can help to inform your own decision.”

How much can you under offer on a house?

If the home is truly asking for more than what it is worth, then start looking at the price you consider acceptable. While 5% to 10% is often deemed a reasonable discount, some people have offered up to 25% less and seen their offer accepted.

What is the difference between under offer and sold STC?

Under offers is a term used by estate agents and means that an offer has been put to the seller and accepted, but will normally be below the asking price. Sold Subject to Contract (STC) is really the same thing an offer has been accepted by the seller, but the paperwork has not yet completed.

Does Under Offer mean sold?

Sold ‘Subject to Contract’ (STC) or ‘Under Offer’ (UO) means that the homeowner has accepted an offer from a buyer but the paperwork is not yet complete. Under offer (UO) is also used by some Estate Agents to indicate that an offer has been made, but not yet accepted.

Can estate agents lie about offers?

When an estate agent markets a home they’re legally obliged to treat both buyers and sellers fairly by following the Code of Practice for Residential Estate Agents. This means they should not lie about offers to any party involved.

How long can you have a house under contract?

Pretty much as long as the other party to the contract will also allow you to. However the buyer’s mortgage company may not lock in interest rates for much longer than 60 days. A seller may need to move.

What does sold subject to contract mean on a house?

Once an offer has been accepted by the seller, then the property is sold subject to contract (STC). This means that although the offer has been accepted, the paperwork is not yet complete. No money will have changed hands yet, so nothing is legally binding and the price can still be negotiated.

Can you offer under offers over?

If you stipulate an offers over price knowing that it is lower than the vendor will accept, then that is bait advertising. … Bait advertising is prohibited because it gives buyers a false impression about the price a seller is willing to accept for a property.

Can you put an offer on a house sold STC?

If a house sale is STC, is there anything to stop other another buyer making an offer? Unfortunately, no. This is sometimes known as ‘gazumping’ and while it’s widely frowned upon as unfair and unethical, it’s not illegal.

What does it mean when a house is sold STC?

Subject To ContractWhat does sold STC mean? Sold STC (Subject To Contract) means the owner of the property has accepted an offer made by a buyer, but the paperwork and process required to make a sale legally binding has not yet been completed. … This basically means that the property is one step behind being sold STC.

Can you put an offer on a house that is already under offer?

Can you make an offer when there’s already an existing offer? In a word, yes. Well, usually. ‘Under offer’ is slightly more open to other suggestions.

What is the difference between under contract and under offer?

Under Offer vs Under Contract Sometimes an agent will use the term ‘under offer’ but really mean under contract, however, generally speaking under offer means there is an offer in place and whether or not it has been accepted by the vendor is another story.