What happens after my offer has been accepted?

Buying a property involves several stages after your offer has been accepted, and we understand that the process can sometimes feel overwhelming. To make things clearer, we’ve broken down the journey into the main steps you’re likely to go through, from the initial acceptance of your offer right through to completion and registration of ownership.

It’s worth keeping in mind that every property transaction is different, so the timeframes below should be viewed as approximate rather than guaranteed. Delays can occasionally happen for a variety of reasons, including mortgage approvals taking longer than expected, survey issues, outstanding legal enquiries, or delays elsewhere in the chain. Throughout the process, we’ll keep you updated and do everything we can to help things move forward as smoothly as possible.

Stage 1 | Offer Accepted & Memorandum of Sale

Estimated Timescale: Days 1 to 5

Once the seller has accepted your offer, we will begin preparing the Memorandum of Sale, often referred to as the MOS. Before this document can be issued, you and all other parties involved will need to complete the necessary identification and compliance checks in accordance with Anti-Money Laundering regulations.

After these checks are completed, the Memorandum of Sale is sent to everyone involved in the transaction, including solicitors and mortgage brokers where relevant. The document confirms the agreed purchase price, property details, and the contact information for both parties’ solicitors. This is generally considered the official starting point of the legal process.

Stage 2 | Pre-Contract Preparation

Estimated Timescale: Weeks 1 to 4

At this stage, the seller’s solicitor begins putting together the legal paperwork needed for the sale. This usually includes standard forms such as the TA6 Property Information Form and the TA10 Fixtures and Contents Form. If the property is leasehold, additional documents like the TA7 Leasehold Information Form and a management pack will also need to be provided.

Other important paperwork, including the Energy Performance Certificate (EPC), Land Registry documents, and title information, is also collected during this period.

Meanwhile, you should move ahead with your mortgage application and arrange a survey or valuation on the property. Depending on the type and condition of the property, this could range from a basic valuation to a Homebuyer Report or a more detailed Building Survey. These checks help identify any issues that may need attention before contracts are exchanged.

Stage 3 | Conveyancing & Legal Work

Estimated Timescale: Weeks 4 to 10

Once the seller’s solicitor has prepared the draft contract pack, it is sent to your solicitor for review. Your solicitor will examine the legal title, supporting documents, and any information provided by the seller before raising further enquiries if needed.

As part of the conveyancing process, your solicitor will also arrange a number of property searches. These commonly include local authority, drainage and water, and environmental searches. The purpose of these searches is to uncover anything that could affect the property, such as planning restrictions, environmental concerns, or issues with drainage and access.

During this time, your mortgage offer is usually issued and checked by your solicitor to make sure all conditions have been met. This stage can sometimes take the longest, as it relies on information being returned from various third parties.

Stage 4 | Exchange of Contracts

Estimated Timescale: Around Weeks 8 to 12

Exchange of contracts is one of the most important points in the transaction. Before exchange can happen, all legal enquiries must be resolved, mortgage arrangements finalised, and signed contracts received from both parties.

Once everything is in place, the solicitors formally exchange contracts, and your deposit, typically 10% of the purchase price, is transferred. At the same time, a completion date is agreed by everyone involved.

After contracts have been exchanged, the transaction becomes legally binding. This means both you and the seller are committed to completing the sale on the agreed date.

Stage 5 | Completion Day

Estimated Timescale: 1 to 4 Weeks After Exchange

Completion day is when ownership of the property officially changes hands. On the agreed date, your solicitor transfers the remaining balance of funds to the seller’s solicitor.

Once the funds have cleared, the transfer deed is completed and the keys are released. You are then able to collect the keys and move into the property.

After completion, your solicitor will handle the remaining legal formalities. This includes paying any Stamp Duty Land Tax (SDLT) owed and registering the new ownership with HM Land Registry. Documents submitted as part of this process may include the TR1 Transfer Form, SDLT5 Certificate, and Mortgage Deed where applicable.

Stage 6 | Post-Completion & Registration

Estimated Timescale: Within 2 to 6 Weeks After Completion

Following completion, HM Land Registry will process the application to officially register you as the new owner of the property. Once registration has been finalised, you will receive updated title documents confirming ownership.

For leasehold properties, there may also be additional requirements after completion. This can include serving a Notice of Transfer and Notice of Charge on the freeholder or management company if the property is mortgaged.

Once these final steps have been completed, the legal process is fully concluded and ownership is formally recorded.