QLD Difference between "under contract" and "sold"?

[Sonlyme]

Please can someone advise what the difference is between under contract and sold?

If it states sold is there a likelihood the title search has already occured? (it is a cash buyer).

Normally there is a period of time between notifications i.e under contract for a few weeks then it states sold thereafter - however the change in this instance was within days. Is there anyone who can shed light on this please? TIA

 

[Rob Legat - SBPL]

Depends on the agent. They might have 'under contract' while it is conditional, and sold when it goes 'unconditional'. That doesn't mean settlement has happened, just that it's not going to fall over due to a condition like building/pest report, or finance approval.

 

[Sonlyme]

Depends on the agent. They might have 'under contract' while it is conditional, and sold when it goes 'unconditional'. That doesn't mean settlement has happened, just that it's not going to fall over due to a condition like building/pest report, or finance approval.

Thanks again for your helpful insight - that makes sense. Thanks again Rob much appreciated.