What does SOLD STC mean and how does it take for , sale of the property to go through

"SOLD STC" stands for "Sold Subject to Contract." It means that an offer has been accepted on a property, but the sale is not yet legally binding because the contract has not been signed. The property is effectively off the market, but the sale is still contingent on a few factors. The time it takes for a sale to go through after a property is marked as SOLD STC can vary widely, typically ranging from a few weeks to several months. The speed of the process depends on several factors, including: 1. **Property Chain**: If there are multiple transactions dependent on one another, any delays in the chain can impact the overall timeline. 2. **Mortgage Approval**: If the buyer is obtaining a mortgage, the approval process can take time. 3. **Surveys and Inspections**: Conducting property surveys and inspections is needed before finalizing the sale, which can add to the timeline. 4. **Legal Process**: The conveyancing process, which involves the transfer of property ownership, can vary in length depending on the complexity of the sale and how quickly solicitors communicate and complete paperwork. 5. **Buyer’s and Seller’s Circumstances**: Individual situations, such as the readiness of the buyer or seller, can significantly affect the timeline. In general, once a property is marked as SOLD STC, the average time to complete the sale can be anywhere from 6 to 12 weeks, although it could be longer in some cases.