What Happens During the SSTC Stage?

Once a property is marked as SSTC, a critical period of activity begins for both the buyer and the seller. For the buyer, this is your opportunity to conduct essential due diligence. You will be arranging your mortgage and commissioning surveys – such as a HomeBuyer Report or Building Survey – and your solicitor will begin vital legal work, including conveyancing searches and the drafting of contracts. At this stage, you are not yet legally bound to buy the property, so you can withdraw if survey results or legal checks uncover concerning issues.

For the seller, while an offer has been accepted, the sale is not guaranteed. Your solicitor will work with the buyer’s solicitor to prepare the necessary legal documentation. You should understand that the property technically remains on the market until contracts are exchanged. While you can consider backup offers, always inform new enquirers that the property is already sold subject to contract.

 

Can You Still View or Make Offers on an SSTC Property?

If a property is marked SSTC, can you still make an offer? Technically, yes. While many agents will cease active marketing, the sale is not legally binding until contracts are officially exchanged and signed. This means the seller can still accept another offer, a practice known as “gazumping.”

For a buyer, while it is generally considered bad form, you can submit a “backup” offer. The estate agent must pass all offers to the seller. If you can demonstrate you are a strong, ready-to-proceed buyer with a mortgage in principle or be in a chain-free position, you would be in a good position should the prospective buyer pull out for whatever reason.

For Sellers: What SSTC Means for You

For sellers, an SSTC status means you have successfully secured a buyer and agreed on terms, yet you are not legally bound. This offers flexibility: you can still withdraw from the sale or accept a better offer, a practice known as “gazumping.” While legal in England and Wales, it is widely considered unethical and can damage your reputation as a seller.

However, until contracts are exchanged, the sale is not guaranteed. Should a more attractive offer emerge, your agent is legally obliged to present it. While a higher offer may tempt you, there is the potential for delays and the risk of alienating your initial buyer if the new offer falls through.

For Buyers: What to Know When a Property Is SSTC

As a buyer, seeing “SSTC” on your dream home means your offer has been verbally accepted by the seller, which is a significant step. However, it is crucial to remember that you don’t own the property until contracts are exchanged. You may be at risk of being “gazumped,” where the seller accepts a higher offer from another interested party.

To mitigate this risk and maintain the process at full speed, be proactive. As soon as your offer has been accepted, arrange your surveys, respond swiftly to all solicitor queries, and stay in close contact with your mortgage lender.

While some SSTC properties remain visible online, you can, and should, make it a condition of your offer that the property is immediately taken off the market. This shows you are serious about the purchase, and it reduces the chance of attracting competing offers, paving a smoother path to securing your new home.

How Long Does a Property Stay SSTC?

The length of time a property remains SSTC can vary significantly; typically, this phase lasts between 6 and 12 weeks before contracts are exchanged. However, it is essential to understand that this is an average period, and several factors can influence the timeline.

Mortgage applications and approvals, the speed of legal checks (conveyancing and searches), and the complexity of the property chain are common contributors to delays. A straightforward, chain-free sale, such as a first-time buyer purchasing a new-build home, can move much quicker, sometimes completing in as little as 4-6 weeks.

Conversely, a long chain or worrying issues unearthed during surveys can extend the SSTC period considerably. Extra time may be added if the seller needs to fix a problem uncovered during a survey as a condition of the sale. Both buyers and sellers need to promptly address any queries from solicitors or mortgage lenders to ensure a smooth progression to the legally binding exchange of contracts.

 

Conclusion

Understanding what “Sold Subject to Contract” means as part of your property purchase process is crucial. As we have explained, SSTC marks a significant milestone – an accepted offer – but it is vital to remember it is not legally binding until the exchange of contract.

For both buyers and sellers, keeping on top of your paperwork and working closely with your estate agent and solicitor is essential to ensuring a smooth and successful transaction.

Whether you are a first-time buyer eagerly awaiting the keys to your new home, a seasoned seller looking to move on or downsize, or a landlord expanding your portfolio in London, the SSTC phase requires careful management. At Crown Luxury Homes, our expertise lies in guiding you through every stage of your property purchase, from the initial offer right through to completion.

If you want a seamless and well-informed experience in the London property market, we are here to help. Contact us today to discuss your property needs and discover how our dedicated team can support your next move.

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