Sold, under offer: what does the status on Funda mean?
Sold, under offer: what does the status on Funda mean?
Are you house hunting? Then Funda is now probably your most visited website. And then you probably also recognize the statuses such as 'under option', 'under offer', or 'sold subject to conditions.' But what exactly does this mean, and is there any point in contacting the broker? We will explain it to you.
What does 'under option' mean on Funda?
You sometimes see this status in new-build homes. You can see it as a kind of reservation: a potential buyer is given time to decide whether they want to buy the home. As long as the property is under option, it may not be sold to other parties.
However, the interested party can withdraw. After all, no (provisional) purchase contract has been signed. If you are also interested in the property in question, it is certainly worthwhile to contact the real estate agent. If the potential buyer backs out, you may be next on the list.
You will rarely encounter this status when selling private homes. It only benefits the buyer, who gets extra time to think about it without other privateers on the coast, while it offers no benefit to the seller.
What does 'under offer' mean on Funda?
If a home is under offer, this means that the seller is negotiating. An offer was made and a counter-proposal was made. There is of course a good chance that both parties will reach an agreement and that the house will be sold.
However, you can still view the house and even make an offer. The seller may choose to negotiate further with you. If your offer is more favorable than that of the current candidate, you may have a chance.
In practice, negotiations often proceed quickly and you end up missing the net. But sometimes this is difficult, for example when a house has been for sale for a long time and receives a low offer, or when heirs cannot reach an agreement. In such situations you can be lucky if your offer is better.
And what exactly is the deal with 'sold subject to contract' and 'sold'?
Is a home listed as sold subject to contract? Then this usually means that the purchase agreement has been signed and the 3-day cooling-off period has expired. Sometimes real estate agents already put a property on this status if there are multiple offers on the table, so that interested parties know that there is no point in requesting a viewing.
With this status, the house has in principle already been sold. But the sale is not yet final. The buyer can rely on a reservation, such as a financing reservation or a construction inspection reservation. In that case, they can still withdraw - and the house will become freely available again. Although we have to be honest: this doesn't happen often.
Have all reservations expired? Then the purchase is really complete. At that time the broker will change the status to 'sold.' This often takes several weeks. It is therefore possible that a home has actually already been sold, but the status is still unchanged because, for example, the financing has not yet been completed.
Want to know more about homes on Funda?
Please feel free to contact our real estate agency if you have any questions about home sales or Funda. We are happy to help you.
