Published: 30/12/2017 By Tom BloomfieldWe are often asked to explain the difference between a house which is described as “UNDER OFFER” and one that is “SOLD SUBJECT TO CONTRACT”, so we thought we would shed some light on the matter.
In practice there is no meaningful difference between the phrases which both describe a situation where an offer has been accepted by an owner and where solicitors have been instructed, but contracts have not yet exchanged.
Although in this state both the buyer and seller could still technically withdraw from the transaction, fresh requests for viewings from other buyers are normally refused.
In practical terms, houses marked with either phrase on sites like rightmove will behave in much the same way, whereby the number of hits and online viewings will reduce to close to zero. (The rightmove graph below shows the typical reduction in the number of buyers that viewed the details of a property following such a change).