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What's The Difference?

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Under offer, sale agreed and Sold subject to contract. Are they all the same term EA's use or is there really a difference?

Try asking that over on www.estateagenttoday.co.uk to get a precise answer. You don't need an account or login - just post it on any of the threads they are currently discussing.

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Under offer, sale agreed and Sold subject to contract. Are they all the same term EA's use or is there really a difference?

They all mean the same thing - "we have a possible sale that has a 50/50 chance of falling through when the mortgage valuation comes in. But we'll consider offers from anyone else all the way up to 30 seconds before contracts are exchanged".

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I have found in Swansea that it means different things to different EA firms and even different things to different EAs in the same firms.

I have lost count of the times EAs have told me that a house is definitely sold only for 12 or 20 weeks, or even 6 months later, for the SSTC board still being up outside or it being relisted on the property sites.

I like Property Bee on RM as I regularly see houses in Swansea going as SOLD or SSTC only for, the above mentioned time later, coming back as Available.

Too many numpties in Swansea offering full asking price on houses thinking they will sell their own for full asking price. They create unrealistic expectations in other sellers and just create long chains that stagnate.

EAs are to blame IMPO for accepting such offers.

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Thanks for all the replies. There are 2 houses in Swansea I am interested in buying as a cash buyer. The first EA has told me the process is near completion and the second hasn't even responded to my email.

I will keep looking.

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Thanks for all the replies. There are 2 houses in Swansea I am interested in buying as a cash buyer. The first EA has told me the process is near completion and the second hasn't even responded to my email.

I will keep looking.

I would keep an eye on the one supposedly SSTC, use property bee on rightmove site to see if it becomes availble again. If it does, go and knock on the door.

Re the second EA who did not respond to your email - go and knock on the door, explain to the owner that you are interested, explain the lack of response from the EA they will ultimately pay money to and see what happens.

Edit:

Can you PM me and tell me which EA did not respond to your email - just curious.

Edited by The Masked Tulip

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I would keep an eye on the one supposedly SSTC, use property bee on rightmove site to see if it becomes availble again. If it does, go and knock on the door.

Re the second EA who did not respond to your email - go and knock on the door, explain to the owner that you are interested, explain the lack of response from the EA they will ultimately pay money to and see what happens.

Edit:

Can you PM me and tell me which EA did not respond to your email - just curious.

http://www.vebra.com/property/3542/22317129

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Somebody mentioned already.

Each EA advertises things differently and it is down to how they think it will look best for them at the time.

If we have something under offer which is an offer that is acceptable, but still open for offers (usually time limited), then we say it is 'under offer'.

Sale agreed is pretty much same as SSTC and sold is sold :D

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Somebody mentioned already.

Each EA advertises things differently and it is down to how they think it will look best for them at the time.

If we have something under offer which is an offer that is acceptable, but still open for offers (usually time limited), then we say it is 'under offer'.

Sale agreed is pretty much same as SSTC and sold is sold :D

Sometimes when the property is sold it is sold. Take it down from your listing.

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Good point, but once again this is an advertising method.

When a property is sold or let, then it is normal to leave a sign up for 14 days to tell everybody that sees the sign that your agency is getting results.

They usually stay on-line for 2 to 4 weeks after completion for the same reason.

Some agents waste a lot of money by putting ads in the property post with sold or let plastered over the picture which is again to show that they are getting results and try to gain more instructions. I think its too expensive to advertise them in the paper and just use up any advertising space with available properties or a sales pitch/special offer.

I think the problem with most agents is that they are chains and I believe the advertising is controlled by the head office. They will advertise differently each time depending on what they need, whether that be new instructions or more sales.

One of the large agents (possibly others) rotate what each office does each month usually depending on performance results. One office will go out and deliberately ramp prices to pick up more instructions and increase stock levels while their next office will try to get all their vendors to lower prices to gain sales, then swap around the next month to level out stock levels. This obviously works, but it gives you a bad name with many people that notice the new stock going on at silly prices.

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I think we often ignore "being a bit thick economically" as being a reason why some of these valuations are ludicrous.

If you are not financially savvy, and have worked during the boom years, then you may simply not be bright enough to understand the reason behind why the houing bubble occured in the first place, why the banks went bust, that the banks are indeed still bust and hence you are oblivious to the fact that the banks are not going to lend such huge amounts of money ever again on houses... so you go out and you keep on valuing houses way above the 2007 bubble height...

Yes, you will get some cash rich people desperate to buy a house as they see a house a better investment, wrongly, than cash in the bank... or someone stupid enough to combine a mortgage with a large desposit to pay a ludicrous price.... but, by and large, you will just end up with a stagnating market and, as we have now, seemingly hundreds of properties just rotating from one EA firm to another to another.... and sitting there on the market for silly asking prices... Many will never sell anywhere near those asking prices...

:lol::lol::lol:

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  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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