What does SSTC mean? - Richard Kendall Estate Agents

Having your offer accepted on a home is an achievement worth celebrating; but the hard work isn’t over yet. In fact, it’s just begun. As soon as a home is sold, it will be listed as ‘SSTC’, so let’s take a look at what this means and what comes next.

What does SSTC stand for?

‘SSTC’ means that the home has been ‘sold subject to contract’. The seller has accepted the offer, but the agreement is not yet legally binding. While a home is listed as SSTC, the buyer and seller are in the conveyancing process and this label will remain unchanged until the deal becomes legally binding. Until the point of exchange of contracts, both the seller and buyer can pull out of the sale without any legal repercussions.

What does SSTC mean for buyers?

SSTC means that the seller has accepted your offer and the conveyancing process can be started. Though it is only one of many obstacles to overcome before you arrive at the exchange of contracts, this is nevertheless a major step in the right direction.

What does SSTC mean for sellers?

Once the buyer's proof of funds has been confirmed, SSTC will show up next to your post on property portals, unless the buyer asks for it to be taken down and you agree. The ‘For Sale’ sign outside your house will also be changed to a ‘Sold STC’ sign.

Can someone view a house that is SSTC?

A home that has been sold subject to contract can still be viewed if the seller agrees to it. However, this could be a risk on the seller’s part as some buyers might choose to withdraw their offer if they find out that the seller is still accepting viewings.

Can I make an offer on a home listed as SSTC?

If the home you are interested in is marked as SSTC, you still have the opportunity to submit an offer. The estate agent has a legal obligation to forward all offers that the seller receives - unless the seller specifically asks them not to. The SSTC stage can be challenging for buyers, as it might result in 'gazumping'.

What is gazumping?

Gazumping is when a higher offer is accepted on the home you are buying, leading to the sale falling through. Timing also plays a big role in gazumping. The seller may accept an offer from a buyer whose schedule fits their needs more closely. Therefore, as a buyer, it’s important to have all your documents at the ready. A mortgage agreement in principle will also speed up the process for both parties.

How to avoid gazumping another buyer

You can register your interest in the property with the agent in case the sale falls through while it is SSTC, even if you do not intend to gazump another buyer. You will be informed and able to make your offer as soon as the property returns on the market.

Thinking about selling your home? Book your professional valuation today

What Our Customers Say...

Amanda and the rest of the Richard Kendall team has been amazing throughout. We've had some people cancel on the viewings and didn't show up at all but the Team didn't fail to chase them as well as keeping us updated all the time. Also, thankful for the team for following our instruction throughout and keeping us in the loop when we've sold the house. Sarah 20/12/2024

The Kendalls team are very efficient!They always answer emails/ phone calls promptly and keep me well informed.They are happy to help with any queries and sort out ongoing jobs. Kelly Scoffins has worked very hard to help us, always cheerful, friendly and nothing we ask is too much trouble. NKB 20/12/2024

The Pontefract Branch of Richard Kendall Estate Agents (operating out of Normanton) sold my property recently and we were pleased with the overall service provided. Our initial contact with "Kendall's" was enough for us to select them over two competitors who also quoted for our business. The photographs of our property were excellent, but the initial draft of our property details was "boiler-plate" and required significant revision to reflect its locational characteristics. Thankfully, this revision was completed swiftly and did not delay our property going to market. The number of viewings was a little disappointing but reflected market conditions, the price point of our property and its semi-rural location. Despite the limited number of viewings we agreed a sale within two months of our property being put on the market; we achieved more than 98% of our asking price. Unfortunately, largely due to our buyers and their advisors, it took a further six months to achieve completion. Whilst this delay was frustrating, we were kept informed of the situation by Alison Atkinson who service was calm, responsive and excellent throughout; her personal performance was 5 star! Overall, we would recommend Richard Kendall to anyone contemplating the sale of their home. Ian 20/12/2024

We recently sold and bought a house through Richard Kendall with Sarah as our estate agent. She was brilliant throughout, she always kept us up to date with weekly updates, chased replies from solicitors/ other parties in the chain and anticipated our needs when different issues cropped up, making a stressful process a lot easier! We can’t thank Sarah and the rest of the Richard Kendall team enough for all their help! We highly recommend! Ellie 20/12/2024

Very helpful and professional, made the transaction very easy Emma 20/12/2024

I have just sold a property and the whole process was managed impeccably by Mandy Bennett. Throughout the sale I received regular progress updates, she coordinated with the solicitors and when needed she gave them a nudge to ensure the sale proceeded promptly. I cannot praise Mandy highly enough, she is a pleasure to work with and her professionalism and proactive approach resulted in a speedy and stress free sale. Davd 20/12/2024

We have recently sold our property via Kendalls @ Wakefield. Our allocated agents, Shireen and Catherine dealt with a difficult sale very professionally and were always on hand to offer help and assistance. The fee was very attractive. A first sale fell through due to the purchasers home developing an issue, but a new buyer was found and the sale proceeded without any issues. Well done. Jill 20/12/2024

Many thanks Karen for your help and kindness Karen went above and beyondto help me with the saleShe kept me updated every step of the way Her service to me was second to none Thank You Karen Jean 20/12/2024

Donna and Suzanne were amazing for the purchase of our family home. They were professional and kept us informed with every step. They chased solicitors on a regular basis and answered any questions we had. Our only regret was not using them for the sale of our property, as we could not fault the service provided. Hannalease 20/12/2024

Get Social