The seller has accepted an offer, but contracts have not yet been exchanged.
Under Offer means a buyer has made an offer on a property and the seller has accepted the offer in principle, but the sale is not yet legally binding because contracts have not been fully exchanged or conditions still need to be satisfied.
The property is effectively reserved for that buyer while the transaction progresses.
Simple Definition
Under Offer = Seller has accepted an offer, but the deal is not final yet.
The property is usually temporarily removed from active marketing while the buyer completes the next steps.
What Happens After a Property Is Under Offer
Once a property is marked Under Offer, the process typically moves through the following stages:
- Offer accepted
- Contracts prepared or reviewed
- Buyer arranges finance approval
- Building and pest inspections completed
- Contracts exchanged
- Contract becomes binding or unconditional
Why Agents Use “Under Offer”
Real estate agents mark properties Under Offer to:
- Inform other buyers an offer has been accepted
- Reduce unnecessary inspections
- Indicate negotiations are progressing
However, the property may still technically be available if the deal falls through.
Common Situations When a Property Is Under Offer
A property may be labelled Under Offer when:
- Buyer’s finance is still being approved
- Building and pest inspections are pending
- Contract terms are being negotiated
- The cooling-off period has not ended
Until contracts are exchanged, the sale can still collapse.
Under Offer vs Sold
Status | Meaning |
|---|---|
Under Offer | Offer accepted but contracts not final |
Sold (Subject to Conditions) | Contracts exchanged but conditions remain |
Sold | Contract unconditional and sale proceeding |
Important Note for Buyers
Just because a property is Under Offer does not always mean it is unavailable.
In some cases:
- The first buyer’s finance may fail
- Inspections may reveal issues
- The buyer may withdraw during cooling-off
Agents sometimes keep backup buyers in case the deal collapses.
✅ Quick Summary
Under Offer means the seller has accepted a buyer’s offer, but the sale is not yet legally completed and may still fall through.