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House under offer

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  • 04-01-2014 7:34pm
    #1
    plumber77
    Registered Users Posts: 654 ✭✭✭


    A quick one for ye folks. If a house is under offer but still not sold, what's the position when it comes to viewing it. Is it just a matter of contracts being finalised or is the house still on the market.


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    #2
    odds_on
    Closed Accounts Posts: 1,869 ✭✭✭odds_on


    When a property is under offer it usually implies that it is "sold subject to contract" (as they put it in the UK, which is more clear).

    As regards viewing, the EA or owner (if no EA) may allow viewings in the hope that the viewer will make a higher offer. However, it usually indicated that the property is now off the market.

    EAs tend to leave the advert on the internet in case the sale falls through and then they don't have to pay for a new advert.


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    #3
    plumber77
    Registered Users Posts: 654 ✭✭✭plumber77


    odds_on wrote: »
    When a property is under offer it usually implies that it is "sold subject to contract" (as they put it in the UK, which is more clear).

    As regards viewing, the EA or owner (if no EA) may allow viewings in the hope that the viewer will make a higher offer. However, it usually indicated that the property is now off the market.

    EAs tend to leave the advert on the internet in case the sale falls through and then they don't have to pay for a new advert.

    Is that not the position when the sale is agreed.


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    #4
    MouseTail
    Registered Users Posts: 1,663 ✭✭✭MouseTail


    No, the potential purchaser has paid a booking deposit, and there will likely be an agreement, albeit not a legally binding one that the house is off the market. Whilst there is no law against you making an offer, or the vendor accepting it, that is called gazumping, is very bad form, and reputable EAs will not facilitate it.


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    #5
    SeanSouth
    Registered Users Posts: 261 ✭✭SeanSouth


    No, "Under offer" means exactly what it says. An offer has been made and not yet accepted. Its designed to put other potential purchasers on notice that there is interest in the property and if no other better offers come through in the near term, the sale may be agreed.

    Its perfectly legit to make an offer in these circumstances. "Under offer" is actually enticing you to make a competitive bid.


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