sale agreed sign?

D

dubda

Registered User
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Hi,

Please excuse a rather obvious query - we have recently put down a deposit on a house, does 'sale agreed' now go on in place of the 'for sale' sign? and is sold held back until the contracts of sale have been signed?

The auctioneer has also told us that the house remains on various property web sites 'for sale' until the contracts of sale are signed.

Thanks in advance,

dubdad
 
it might depend but we have put a deposit on a house and the next day the property had "sale agreed" in the web and later on was gone from the property web sites ...
 
The Sold sign goes up when you tell the EA it should.

Whenever I've bought a house, I make that a condition of the offer. You risk someone else gazumping you otherwise. In the current market, an EA would be mad to lose a purchaser over this
 
mathepac said:
The EA represents and takes instructions from the vendor, not the purchaser.
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True - but if a serious purchaser threatens to pull out because a property is still being actively marketed, then any sane vendor would quickly agree to this.
 
We are in the same position but they will not take down the for sale sign even though they have our deposit! It doesn't seem right that they have our deposit and yet are still showing the house to potential viewers.
 
Would house swopping be a good option to using estate agents??
 
snowwhite said:
We are in the same position but they will not take down the for sale sign even though they have our deposit! It doesn't seem right that they have our deposit and yet are still showing the house to potential viewers.
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Do they have your booking deposit or your full 10%? If the former, then you are not "sale agreed". The "sale agreed" sign usually (from what I know) goes up after contracts have been exchanged and the main deposit paid (not just the booking deposit)

Sprite
 
EA put up the SA sign when we paid the booking deposit. It was part of what we agreed to with the vendors via the EA. That was in the boom. They will agree to stop marketing if you ask at the right time.
 
With the high proportion of sales falling through at the moment it strikes me as unfair to insist on sale agreed or sold being advertised before contracts being signed. Despite the best will in the world anecdotally it seems a large amount of buyers are not being mortgage approved when they go to exchange.
 
BeanPole said:
The Sold sign goes up when you tell the EA it should.

Whenever I've bought a house, I make that a condition of the offer. You risk someone else gazumping you otherwise. In the current market, an EA would be mad to lose a purchaser over this
Click to expand...

Putting a sold sign up when only a booking deposit has been made would make no sense in any market, a s/a sign generally pops up when booking deposit is paid.
 
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