What does SSTC mean?

What does SSTC mean?

Sold Subject to Contract- this means an offer has been made which is attractive to the vendor who has then accepted the offer. The purchaser's solicitor will be making enquires about the property and the purchaser will be organising their finance. Once both the buyers' and vendors' solicitors are happy to proceed and the purchaser has secured the necessary funds, a contract will be signed so that the vendor has to then sell to the purchaser who has to then buy.

Once a contract has been signed the completion will follow when the consideration (money) is handed over and the ownership is officially transferred.

Once an offer has been accepted (SSTC) the property will be taken off the market and no further viewing carried out. Details of any other interested parties will be retained and they will be informed if the property comes back onto the market.