Mortgage Knowledge Base
A phase of a property sale after an offer has been made and accepted but before contracts have been signed and exchanged.
The term “subject to contract” refers to a legal condition that is often used in the context of property transactions in the United Kingdom. It means that the parties to the transaction have not yet entered into a legally binding agreement, and that the transaction is still subject to negotiation and completion of the final contract.
It is important to understand the meaning of “subject to contract” and to be aware that a transaction that is “subject to contract” is not yet legally binding.
