A House Sold Or Not Sold ?

[balloney]

The house opposite to my house was put on the market in the first week of July 2019.
Many potential buyers came to see the property in the first week.
The Monday of the following week the sign was put up SOLD.

During the months of July and August other potential buyers have been shown the property by the Estate Agent ( HOME ).

Why is the sign showing SOLD, when it is not ?????

[Zacs-Master]

Because there should be written, in very small letters under the word SOLD ‘subject to contract’.

[woofgang]

could be a ton of reasons including lazy estate agents....why do you care?

[Deskdiary]

I suspect its estate agents being their usual scummy money grubbing selves.

I bought a house a few years ago for the asking price, and shook on it with the owner (the estate agent didn't attend the viewing) subject to him taking it off the market (he and I were chainless, so it would be a swift transaction). A couple of weeks later I got a call from him asking why I'd pulled out of the sale as the estate agent was arranging viewings for potential buyers - I assured him I had not, so he got hold of them and told them to pack-it in. My assumption was they were hoping somebody would offer more than me.

They could be doing the same.

I would trust an estate agent as far as I could spit a dead rat.

[Old_Geezer]

Estate agents claim "sold" when it's usually under offer and theoretically off the market. But you can view and try to gazump if you wish. The estate agent and seller won't necessarily mind.

[Deskdiary]

*I wouldn't*

[DTCwordfan]

because it's at offer stage and subject to contract - though they can still show and maybe there will be a more favourable offer in terms of price, the level of mortgage involved, and how long is the chain. Oh for the Scottish system which is much more razor sharp and binding - you look, you study the surveyor's report (an expense of the seller) and when you offer, it's a contractual offer and cannot be gazumped or gazundered.

[balloney]

The house has no chain.
So It could be the never put to bed - Gazumping !!??

[Baldric]

Why not ask the Estate Agent?

[Deskdiary]

DTCwordfan is spot-on.

High time the Scottish system was adopted.

Outside of Scotland a buyer can spend thousands on fees and then just before pen is laid to paper can be gazumped, and lose all of that money. It may be perfectly legal, but it is totally immoral.

[balloney]

Hi Baldric,
I enquired at the Home Estate agents locally.
The sales lady mentioned that - " If a SOLD sign was put up at the property, then it has been sold, subject to contracts etc ".
I asked her why other potential viewers had been shown the property after the SOLD sign had been put up.
She replied with - " You never know if people change their minds ".
They keep the Sold sign up for the sake of it, till new occupants move in.