What Does ‘Under Offer’ Really Mean?

If you have been house hunting or browsing property listings online, you have likely come across the term ‘Under Offer’ next to a property that caught your eye. But what does it actually mean and more importantly, can you still make an offer at this stage?

What Does ‘Under Offer’ Mean?

‘Under Offer’ means that a seller has accepted an offer but contracts have not yet been exchanged. At this stage, the sale is not legally binding, and the property may still be shown to other potential buyers at the sellers request.

 Is the Property Off the Market?

Not necessarily.

While some sellers choose to pause viewings once an offer has been accepted, others may keep the property on the market, particularly if they are hoping for a stronger offer or would like a “backup” in case the current sale falls through.

However, this approach can sometimes have a detrimental effect on the buyer, leaving them feeling uncertain or insecure about their purchase. It is a delicate balance and one that sellers should carefully consider when deciding how to proceed.

If you happen to come across your dream property and it’s already under offer, don’t be discouraged. Until contracts are exchanged, the sale is not legally binding and circumstances can change. Expressing your interest could put you in a strong position should the current offer fall through.

 Can You Still Make an Offer?

Yes, in most cases you can still make an offer.

Until contracts are exchanged, either party can withdraw. This means that if you’re a serious buyer and you have found a property that’s “Under Offer,” it might still be worth registering your interest.

This is sometimes referred to as ‘being in a proceedable position’  i.e., you are ready to move quickly, which can be attractive to sellers if their current buyer is delayed or uncommitted.

If the sale were to fall through, the seller can be safe in the knowledge that a backup may be in place.

Is This the Same as ‘Sold Subject to Contract’ (SSTC)?

The terms ‘Under Offer’ and ‘Sold STC’ are often used interchangeably but technically:

• Under Offer usually refers to the period immediately after an offer has been accepted.
• Sold Subject to Contract (SSTC) typically means the legal process has begun (surveys, conveyancing, etc.) but is not yet complete.

In both cases, the sale is not yet legally binding.

Why Do Sales Fall Through?

Sometimes a property comes back on the market after being ‘Under Offer’. Common reasons include:

• The buyer pulling out
• Mortgage issues
• Problems revealed in the survey
• Delays in the chain
• A better offer being accepted

This is why staying in touch with the agent and being ready to act can work in your favour.

Final Thoughts

‘Under Offer’ is a promising sign for sellers, but it’s not the final step. For buyers, it’s a signal to move quickly and not to be discouraged. If you’re interested in a property that’s under offer, reach out to the agent. You never know what might still be possible!