Sale Agreed Timing

F

frankde

Registered User
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77
Hi
Just wondering when does the status of a property change to "Sale Agreed"

I paid a booking deposit for a property a week ago, and the property is still listed by the agent and on Daft/Home.ie as being for sale...
 
There is no set time for this. The EA generally changes it to SA when they feel sure that the sale is going to proceed.
Have you organised a solicitor & is the ball rolling on the buying process? A booking deposit means nothing legally as it can be cancelled & returned.
Speak to the EA & make sure there are no more viewings & ask that it be updated to SA.
 
The property is still for sale until it is sold. "Sale Agreed" is a meaningless status as nothing is agreed until contracts are signed etc.
 
Butter said:
There is no set time for this. The EA generally changes it to SA when they feel sure that the sale is going to proceed.
Have you organised a solicitor & is the ball rolling on the buying process? A booking deposit means nothing legally as it can be cancelled & returned.
Speak to the EA & make sure there are no more viewings & ask that it be updated to SA.
Click to expand...

Actually I only provided the solicitor details last Friday
Thanks for the advice, will request that the status be updated next week
 
mathepac said:
The property is still for sale until it is sold. "Sale Agreed" is a meaningless status as nothing is agreed until contracts are signed etc.
Click to expand...
true enough

I guess I have learned a couple of lessons here
1)Booking deposit is meaningless
2)Ones word counts for nothing in this business
 
I spoke to an EA recently about this. He told me that so many sales have been falling through lately that they dont officially mark sales 'agreed' on the websites until contracts get exchanged. However, any enquiries will be informed that the house is 'sale agreed' and no more viewings will be held.
 
I think the Brits tend to favour "Under Offer" which is the real situation. BTW, if a stupid "Sale Agreed" sign stops potential buyers making a higher offer, isn't the EA failing in their duty to the vendor? "Under Offer" to me seems to invite higher offers, "Sale Agreed" prevents them.
 
mathepac said:
I think the Brits tend to favour "Under Offer" which is the real situation. BTW, if a stupid "Sale Agreed" sign stops potential buyers making a higher offer, isn't the EA failing in their duty to the vendor? "Under Offer" to me seems to invite higher offers, "Sale Agreed" prevents them.
Click to expand...
Or "Sold subject to contract".
 
Which simply means "Still For Sale" or "UnSold" which is what all these nonsensical indicators mean anyway.
 
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