What’s the Difference Between Under Offer and Sold STC?

If you’ve ever bought or sold a home – or you’re getting ready to do so – you’ve probably come across the terms “under offer” and “sold STC”. At first glance, they might seem interchangeable and both sound like properties in the process of being sold. 

But understanding the difference between the two can help you navigate the selling process more smoothly – so let’s break it down.

Under offer meaning

When a property is marked as under offer, it means the seller has accepted an offer from a potential buyer, but the sale isn’t final yet. Essentially, the buyer has made a commitment, but the deal hasn’t been legally sealed. There are still a few hoops to jump through before the sale is confirmed.

During this stage, the buyer might be finalising their mortgage application, having the property surveyed or even negotiating with the seller on specific terms. It’s a good sign that the sale is moving forward, but there’s still a chance that the deal could fall through if something doesn’t go to plan.

Sold STC meaning

On the other hand, when a property is marked as sold STC (Which stands for subject to contract), it means the seller has accepted an offer, and both parties have agreed in principle to proceed with the sale. STC means that the sale is progressing but is still subject to the contracts being signed and the legal process being completed.

At this stage, the buyer has likely already had their offer accepted, and both sides are waiting for the paperwork to be finalised. It’s pretty much a done deal – unless something major crops up during the legal checks, surveys or financing stages.

The difference between under offer and sold STC

The main difference between under offer and sold STC is the level of certainty. When a property is under offer, the deal is still in its early stages, and there are more chances for things to change (and to, yes, go wrong – it happens unfortunately!). 

In contrast, when it’s sold STC, the deal is pretty much confirmed, and the sale is moving forward – assuming everything goes smoothly.

For buyers, this can be important because it tells you whether the seller has already accepted an offer but hasn’t finalised everything, or if the property is already practically off the market. For sellers, understanding these terms helps you gauge the progress of your sale and gives you a better idea of when things are likely to wrap up.

How long does it take from under offer to sold STC?

So now you know the difference – but how long does it take from under offer to sold STC? While both terms indicate a property that’s on the market has taken a step towards selling, understanding the timeline and what to expect next can help you make informed decisions. 

Typically, the period between under offer and sold STC can range anywhere from a few weeks to several months. This time allows for mortgage approval, surveys and negotiations to happen.

However, the waiting game during this phase can often feel uncertain. Problems can crop up, deals can fall through and suddenly, you’re stuck in limbo – waiting for paperwork, loan approval or other factors outside of your control.

Keep in mind that you don’t have to deal with these delays though. If you’re looking for a way to skip the drawn-out waiting period, our service offers a quick and straightforward solution, keep reading.

Common mistakes to avoid when selling a property under offer

When your property is under offer, it’s easy to think the sale is a done deal, but there’s still a lot that can go wrong. Some common mistakes sellers make during this stage include:

1. Rushing to make big decisions: You may be tempted to take the first offer that comes your way, but it’s important to take your time. Is the buyer financially secure? Do they have any contingencies that might hold up the sale?
2. Not being transparent about issues: If there are any issues with the property – whether it’s a small repair or something more significant – make sure you disclose them. Hiding potential problems can cause delays if the buyer backs out once the survey is done.
3. Not having backup plans: In the under offer phase, you still have time to entertain backup offers, but many sellers don’t realise this and end up missing out on potential buyers in case the first deal falls through.

Why some properties stay under offer for longer than expected

There’s nothing more frustrating than seeing your property marked as under offer for weeks or even months. The initial excitement of getting an offer can quickly turn into confusion or stress when the sale just won’t move forward. So, why do some properties stay under offer for longer than expected? Here are some common reasons:

1. Mortgage lenders can sometimes take longer than expected to process applications or approve loans. This delay can hold up the sale, and in some cases, cause it to fall through entirely.
2. If the buyer’s survey uncovers problems with the property (even minor ones), they might ask for repairs, a price reduction or even decide to pull out of the sale altogether.
3. Life happens, and sometimes buyers get cold feet or become unresponsive to communication, dragging the process out longer than expected.

If you’ve found yourself stuck in the under offer phase with no end in sight, it can be incredibly frustrating.  We understand how time-consuming and stressful this process can be. It’s one of the reasons behind what we do.

What to do if you want to withdraw from a sale after being sold STC

Sometimes, after being sold STC, a situation may arise where you want to withdraw from the sale. Whether it’s due to changes in your personal circumstances, a better offer, or any number of other reasons, you might be wondering if you have any recourse. 

So, good news: The short answer is yes, you can withdraw from the sale. However, there are legal considerations.

Withdrawing from a sale sold STC is more complicated than simply pulling out during the under offer stage. If you’ve accepted an offer and both parties have agreed to proceed, there could be consequences, especially if the buyer has already incurred costs like a survey or mortgage fees. You might risk legal action for breach of contract, and in some cases the buyer might try to claim back some costs.

That said, if you really need to withdraw, start by talking to your solicitor to understand your position and navigate the process legally.

What happens if a sale falls through after being under offer or sold STC?

A sale falling through can be one of the most frustrating experiences when you’re trying to sell your home. Whether it happens during the under offer stage or after you’ve marked your property as sold STC, the outcome is often the same: you’re back to square one, and it feels like all that effort has been for nothing.

When a sale falls through, it can be due to a variety of reasons – issues with the buyer’s financing, problems uncovered during the survey or simply cold feet from the buyer. The emotional toll can be heavy, but the practical impact is also significant. If your property was marked under offer or sold STC, the market may now see it as a failed sale, which could affect its value or attractiveness to future buyers.

You’re in control – get your sale moving faster

Selling a home can feel like the world’s longest waiting game – especially if your property is under offer or sold STC! But if you’re looking for a quicker, simpler way to sell, Sell House Fast is here to make it happen. You can sell your home for cash to us, with no hidden fees and no long delays.

So if you’re ready to skip the wait, get your free cash offer now and discover how easy it is to sell your house fast.