Does Sale Agreed mean sold?

What is the time it takes to sell a sale?

Once the formal contracts are signed and consented to, and a larger deposit has been agreed and paid, the process is binding. This can vary depending on the sale but typically takes six to eight weeks from agreement to exchange of contracts and completion.

You might also wonder what the difference is between sale agreed to and sold. A "Sale Agreement", "Under Offer" and "Sold Subject To Contract" all suggest the same thing. They indicate that the seller accepted an offer for the property. However, contracts have not been exchanged. A 'Sold' label should be used only after contracts have been exchanged.

Is the sale legally binding?

A property purchase offer, i.e. An offer to buy a property (i.e. A house for sale becomes legally binding once contracts have been exchanged. The sale of a house becomes legally binding once contracts have been exchanged.

What happens when the sale is completed?

The sale becomes legally binding once the entire property price is paid in full and the countersigned contract has been signed by the vendor. Once the solicitors have agreed on a closing date, you will be able to collect your keys.