What is the difference between sold and under offer? Have you seen a lot of under offer stickers around but not sure what it means?

UNDER OFFER: All terms and conditions have been agreed upon by both the buyer and seller and an offer has been formally accepted. A deposit has been paid but there are some conditions that need to be satisfied. Eg. Subject to the buyer’s finance approval or to building and pest inspection.

SOLD: When a property is sold, all conditions of the contract have been satisfied. The sale contract is now unconditional and settlement can proceed.

If you see a property you are interested in and it’s under offer, it is still worth giving the agent a call as you never know if the offer will fall through! Then you’ll be first on the list to be contacted if it goes back on the market.

For more advice on buying or selling, contact one of our property consultants today!

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What is the difference between sold and under offer? Have you seen a lot of under offer stickers around but not sure what it means?