Buying a home can be one of the most exciting – and sometimes confusing(!) – experiences in life. Along the way, you are likely to encounter plenty of legal terms and phrases, including one that often raises questions: “under offer.”
At Innes & Mackay, our experienced estate agents in Inverness (and expert solicitors) are here to help you understand exactly what “under offer” means, how it fits into the property-buying process, and how it differs from similar terms such as “sold” or “subject to contract.”
What Does “Under Offer” Actually Mean?
When a property is described as “under offer” in Scotland, it means that the seller has received an offer from a potential buyer, and they have accepted it. An “offer” is a formal written proposal submitted by a potential buyer’s solicitor to the seller’s solicitor or estate agent, setting out the price and conditions under which they wish to purchase the property.
Crucially, the term “under offer” means the sale of the property hasn’t yet been finalised – either party could still withdraw from the process at this stage. In Scotland, however, the under offer stage is often more secure than in other parts of the UK. This is because once a formal offer has been submitted and missives (contracts) begin to be exchanged, both parties are moving toward a binding agreement. However, the property technically remains on the market until the missives are concluded.
How “Under Offer” Differs from Other Terms When Buying A Property
If you’re browsing homes for sale with Innes & Mackay’s estate agency in Inverness, you’ll often see the term “Under Offer” to indicate where a property is in the selling process. If in doubt, here is our guide to common terms you are likely to come across throughout the buying process:
Under Offer – The seller of the property has received an offer and negotiations are underway, but nothing is legally binding yet.
Viewings Suspended – Properties are marked ‘viewings suspended’ when a conditional offer has been verbally agreed by the seller. In most cases, the clause would be ‘subject to sale’. Once the buyer agrees an offer on their sale, we can then proceed to mark the property ‘under offer’, and this is when the conveyancing process begins. Typically, properties are marketed ‘viewings suspended’ for 3-4 weeks, to allow the purchaser time to receive an agreeable offer on their own property. The property is still shown as being available online, therefore anyone who contacts us in connection with the property, their details will be noted on file and then contacted should the offer fall through.
Sold – Once the missives are concluded, the sale becomes legally binding and the property is officially sold.
The Process of Buying A Property with Innes & Mackay in Scotland
Buying property in Scotland involves several clear stages, each of which our Innes & Mackay solicitors can support you with:
- Noting Interest – When you find a property you like, your solicitor can “note interest” with the seller’s agent. This ensures you’ll be notified if a closing date for offers is set.
- Making an Offer – If you want to go ahead and make an offer, your solicitor will prepare and submit a written offer on your behalf. The seller can then accept, reject or negotiate the terms.
- Under Offer – Once your offer has been accepted, the property becomes “under offer.” At this point, solicitors for both parties exchange correspondence – known as missives – to agree on the contract terms.
- Conclusion of Missives – When all terms are agreed, titles checked and funding received the missives are concluded, and the contract becomes legally binding. The property is then considered sold.
- Settlement and Entry – On the agreed date of entry, funds are transferred, and you receive the keys to your new home!
Why Choose Innes & Mackay?
At Innes & Mackay, our dual expertise as both estate agents and solicitors allows us to guide you seamlessly through every stage of this journey – from finding your ideal property to completing the legal aspects of your purchase, all under one roof. Whether you’re buying, selling, or seeking legal advice, our dedicated team ensures a clear, supportive process from start to finish.
With over 150 years of experience, Innes & Mackay offers professional guidance across:
- Property purchases and sales
- Conveyancing and title transfers
- Wills, powers of attorney and estate planning
- Family Law
Get Local, Expert Guidance from Innes & Mackay Estate Agents in Inverness
Understanding terms like “under offer” is just one part of the property journey. With Innes & Mackay’s experienced estate agents in Inverness, you can navigate the process efficiently and with confidence.
If you’re ready to buy or sell a property, contact our friendly team today for expert local advice.
