Is it normal for agents to refuse to put up "Under Offer" on the ad?

[jerrybee]

Both the seller and I signed last Friday (QLD), but the agent says that even though they won't take any other offers unless mine falls through, they won't put up an "Under Offer" sign until finance has been confirmed.

I don't understand - isn't this the difference between "Under Offer" and "Under Contract"? I get that they won't / can't put up "Under Contract", but surely "Under Offer" is appropriate?

Is this even legal?

 

[marg4000]

It is not at all unusual. In fact, agents will often sign up a back up contract in case the first one does not proceed.
Marg

 

[Big Will]

You have nothing to worry about unless you don't get finance .

You have an agreed COS and it is yours unless it is terminated which would have fees.

 

[jerrybee]

It is not at all unusual. In fact, agents will often sign up a back up contract in case the first one does not proceed.
Marg

Signed by the alt buyer, not seller right?

 

[Big Will]

correct, it would be with another buyer.

Sometimes if there is multiple offers the underbidder will say that's fine but if it falls through I am still happy to provide mine.

The agent would disclose to any enquiry that the property is under offer as not to annoy his future buyers and would explain that it will likely sell but can show you other properties and if you are interested and the contract falls through will let you know.

This way the vendor is still getting marketing and not losing time but also the agent gets to meet new buyers so he can sell to.

 

[pickle pickle]

No not rare at all. If the finance falls through then the agent has a marketing problem with the property is he puts it as under offer.

 

[Rixter]

Yeah your offer hasnt gone Unconditional as yet, so they keep the marketing open for business to cover their bases for future lead generating.

Nothing to sweat over because you're in the box seat.