Glossary · GB
Under Offer
A property status indicating the seller has accepted an offer but contracts have not yet exchanged, so the sale is not yet legally binding.
Belgrave in London
Need help with this?
- A free London property valuation you can actually act onBook my free valuation
- Sell your London home fast, without the cash-buyer discountGet my fast-sale plan
- Sell your luxury London home to the right buyer, discreetlyDiscuss a confidential sale
- Sell and buy at the same time, with one advisor running bothPlan my move
Around this term
Related terms.
Exchange of Contracts
The stage in an English property transaction when the buyer and seller formally exchange signed contracts, making the agreement legally binding subject to its terms.
Subject to Contract
A status indicating that negotiations or an agreed commercial position are not yet legally binding because formal contracts have not been exchanged or executed.
Additional Property Surcharge
An additional SDLT charge that can apply when an individual purchases an additional residential property, subject to the applicable rules and exemptions.
Adverse Possession
The legal process by which someone who has openly occupied land they do not own for a qualifying period may apply to become its registered owner. Colloquially 'squatter's rights'.
Amortisation
The gradual repayment of a loan's capital over its term through scheduled instalments, steadily reducing the outstanding balance.
Asking Price
The price at which a property is initially offered for sale by the seller. The final transaction price may be higher or lower.
Ready when you are
Need this term applied to a real deal?
A senior advisor will walk you through how it shows up in your engagement letter or contract.
- No obligation, ever
- A personal reply within one working day
- One named senior partner throughout
Private and discreet. Your details are never sold, shared or added to a marketing list.