If you’ve ever looked at houses online or walked past a “For Sale” sign, you might have seen the words “Under Offer” and wondered what they mean. It’s a pretty common term in real estate, but not everyone knows exactly what it means. So, what does under offer mean in real estate? In simple terms, it means that someone has made an offer to buy a property, and the seller is thinking about it or has accepted it but hasn’t signed the final paperwork yet. The house is still in a sort of “in-between” stage—it’s not fully sold, but it’s also not completely available anymore.
But there’s more to it than just that! Let’s break it down in a way that makes total sense, even if you’ve never bought a house before.
What Does “Under Offer” Really Mean?
When a house is “Under Offer,” it means that the seller has received an offer from a buyer. They might be negotiating, checking paperwork, or waiting for the buyer to sort out their mortgage. But at this stage, the house is still not officially sold.
Now, what does under offer mean in real estate when compared to other terms like “Sold” or “Sale Agreed”? Well, “Under Offer” is like saying, “Hey, we’ve got a potential deal happening here, but it’s not done yet!”
Is “Under Offer” the Same as “Sold”?
Nope! A house that is “Under Offer” is not the same as one that is sold. A home is only sold when all the contracts are signed, the money is transferred, and the keys are handed over.
So, if a house is under offer, it still could end up back on the market if something goes wrong with the deal. Maybe the buyer changes their mind, or they can’t get the loan they need. In that case, the seller can look for a new buyer.
This is why some people still try to make offers on houses even when they see “Under Offer” signs—because there’s always a small chance the deal might fall through!
Can You Still Make an Offer on a House That Is “Under Offer”?
Yes, you can! Just because a home is under offer doesn’t mean you can’t try to buy it. Some sellers will still accept backup offers in case the first buyer backs out.
However, some sellers won’t entertain new offers once a deal is in motion. It really depends on the rules in that area and the seller’s decision.
If you’re super interested in a home that’s under offer, it doesn’t hurt to ask the real estate agent if the seller is open to more offers!
Why Do Some Houses Stay “Under Offer” for So Long?
Sometimes, a house can be under offer for weeks or even months. This usually happens when:
- The buyer is waiting for mortgage approval.
- The home inspection takes a long time.
- There are legal issues or missing paperwork.
- The seller and buyer are negotiating on repairs or price changes.
It’s basically a waiting game. Until everything is sorted, the house stays under offer instead of being officially sold.
What Happens After a House Is Under Offer?
Once a house is under offer, a few things can happen:
- The buyer completes all their checks – This includes getting their loan approved, doing a home inspection, and making sure everything is in order.
- The contracts are signed – Once both the buyer and seller are happy, they sign the final agreement.
- The home is marked as “Sold” – At this point, the deal is locked in, and no one else can buy the home.
- The keys are handed over – This is the best part for the buyer—it’s finally time to move in!
But if something goes wrong, the house can go back on the market, and new buyers get a chance to buy it.
Does “Under Offer” Mean I Should Stop Looking for Other Houses?
If you’re a buyer, don’t put all your hopes into a house that is under offer. While there’s always a chance the deal might fall through, it’s risky to wait around for that to happen.
Instead, keep looking at other homes just in case. If the house you love becomes available again, great! But if not, you won’t have wasted precious time.
Why Do Real Estate Agents Use “Under Offer” Signs?
Real estate agents put Under Offer signs on homes to let people know that a deal is in progress. It also helps them attract more buyers.
Think about it—when people see a house is under offer, they might suddenly become more interested. It creates a sense of urgency. Some buyers might even rush to make a better offer in hopes of securing the deal for themselves.
So, in some ways, saying a house is “Under Offer” is also a smart selling trick!
Is “Under Offer” the Same Everywhere?
Nope! The meaning of “Under Offer” can change depending on where you are.
- In some countries, “Under Offer” means the seller has just received an offer but hasn’t accepted it yet.
- In other places, it means the seller has accepted the offer, but it’s still not 100% final.
This is why it’s always a good idea to ask the real estate agent exactly what “Under Offer” means in that specific location.
Final Thoughts: What Does Under Offer Mean in Real Estate?
So, to wrap things up—what does under offer mean in real estate? It means a buyer has made an offer on a house, and the seller is considering it or has accepted it, but the deal isn’t fully complete yet.
The house could still end up back on the market if the deal falls apart, or it could move forward to being officially sold.
If you’re house hunting and see a property that’s under offer, don’t lose hope! There’s always a chance it could become available again.
And if you’re selling a home, being “Under Offer” is an exciting step—but remember, it’s not over until the final papers are signed!
