What does SSTC mean on Facebook Marketplace?
Users may organize to purchase, sell, and trade goods with other individuals using Facebook Marketplace, a digital marketplace. The fact that all transactions take place outside of the app means that Facebook is not legally liable for them.
Facebook Marketplace is classified-ad section of the social network that specializes in helping individuals and businesses sell items locally. Using Facebook Marketplace, you can:
- Look for products to purchase
- View things up for sale by category and/or location.
- Make product listings. Using the app’s camera feature or adding photographs from your device’s camera roll, you may take the images for the item. Items are organized by category and location.
- View communications and prior and present transactions in the “Your Items” area.
- Create unique bids on goods.
- Send messages to buyers and sellers to set up trades
What is SSTC?
When an item is listed as Sold Subject to Contract (SSTC or Sold STC), a seller has accepted an offer on it. It is still only a verbal agreement at this point, making it “subject to contract” and not yet legally enforceable. Similar meanings can also be derived from other frequently used phrases like “sell agreed” or “under offer.”
What does the term “SSTC” mean to a seller?
It is now sold STC when you get and accept a bid from a potential buyer on Facebook. For instance. The “For Sale” sign outside a house will be replaced with a “Sold” or “Sold STC” sign, and your offer listing will be deleted from or updated as sold STC on your estate agents and other property websites. I hope you get the logic.
What does “SSTC” mean to the buyer?
It’s time to finalize your offer after the seller has accepted it after you made it on Facebook. The seller will then give you the go-ahead to organize the searches and surveys and learn anything you don’t already know about the offer.
Before the transaction is finalized and becomes legally binding, you have the opportunity to make sure you are aware of all the details and are satisfied with them.
What happens after SSTC?
The real sale is completed at the time after Sold Subject To Contract. Contracts between the buyer and seller have been exchanged, and every aspect of the agreement has been outlined. All parties to the sale are then legally required to complete the acquisition. We DO NOT recommend canceling a home sale after contracts have been exchanged since doing so might be expensive.
Can I make an offer on an SSTC product?
If a thing is sold STC, anybody may put an offer on it, so if you’re SSTC on your subsequent buy, don’t jump the gun. It is not yet yours. And even after a property is marked as sold, a buyer could decide to back out. Only until both the buyer and the seller have completed everything is a sale truly “locked in.”
SSTC is not popular in west Africa because most sellers here do not follow or know anything about SSTC and so they intend to do it the traditional way.