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Category | S |
---|---|
Domain name | soldsubjecttocontract.co.uk |
IP | 85.233.160.22 |
Country by IP | GB |
Web server type | Apache |
Hostname | fwd0.hosts.co.uk |
The sold subject to contract stage is one of the longer phases in the house buying process and comes wrought with anxiety for all parties. Once an offer has been accepted by the seller, then the property is sold subject to contract (STC). This means that although the offer has been accepted, the paperwork is not yet complete. Visit website
Sold Subject to Contract, or SSTC for short, basically means a formal offer has been made on a property and the seller has accepted it. At this stage, there has been no contracts or paperwork signed and so there’s nothing to legally bind the deal, and either party could decide to pull out without losing any money. Visit website
When a property is on sale, the term SSTC or Sold STC indicates that a buyer has submitted an offer on a house and has been accepted by the seller. The agreement is ‘subject to contract’ as it is just a verbal agreement that is not legally binding. Visit website
Sold ‘Subject to Contract’ (STC) means an offer has been agreed between the buyer and seller, but is not yet legally binding and subject to the contract being formally agreed (known as exchange of contracts). The property may still be considered as available and alternative offers can be put forward to the seller to consider. Visit website
The concept of Sold Subject to Contract has a different impact whether one is a buyer or a seller: to the former, it means that at this stage the solicitor will gather the necessary information required in order to make a safe purchase. To the seller, SSTC means that the property has definitely been removed from the market. Visit website