What happens after accepting an offer?

Accepting an offer on your property is an important milestone, and the beginning of the legal process leading up to your sale completing. While every transaction is slightly different, understanding the stages involved can help you feel more prepared and informed throughout the journey.

Below is an overview of the typical steps involved once an offer has been agreed, from the issue of the Memorandum of Sale through to completion and moving day.

It’s important to remember that the timescales provided are only intended as a guide. Some transactions progress quickly, while others may take longer due to factors such as mortgage delays, survey findings, legal enquiries, or complications within the property chain. Throughout the process, we will keep you updated and work closely with all parties to help ensure the sale progresses as smoothly as possible.

Stage 1 | Offer Accepted & Memorandum of Sale

Estimated Timescale: Days 1 to 5

Once you have accepted an offer on your property, we will begin preparing the Memorandum of Sale (MOS). Before the MOS can be issued, all parties involved must complete the necessary identification and compliance checks in line with Anti-Money Laundering regulations.

Once completed, the Memorandum of Sale is sent to all parties, including both solicitors and any mortgage brokers involved in the transaction. The document confirms the agreed sale price, property details, and solicitor information for both the buyer and seller. This marks the official start of the conveyancing process.

At this stage, you should also formally instruct a solicitor or conveyancer if you have not already done so.

Stage 2 | Preparing Contract Documentation

Estimated Timescale: Weeks 1 to 4

During this stage, your solicitor will begin preparing the legal documents required for the sale. You will usually be asked to complete several standard property forms, including the TA6 Property Information Form and the TA10 Fixtures & Contents Form. If the property is leasehold, you may also need to complete a TA7 Leasehold Information Form.

Your solicitor will also obtain copies of the title deeds and Land Registry documents relating to the property. For leasehold properties, a management information pack will normally be requested from the freeholder or managing agent. This pack contains important information about service charges, ground rent, building insurance, and management arrangements.

At the same time, the buyer will usually begin arranging their mortgage application and property survey.

Stage 3 | Conveyancing & Buyer Enquiries

Estimated Timescale: Weeks 4 to 10

Once the draft contract pack has been prepared, your solicitor will send it to the buyer’s solicitor for review. The buyer’s solicitor will examine the legal documents and may raise additional enquiries about the property.

These enquiries can relate to a wide range of matters, including boundaries, planning permissions, guarantees, leasehold information, or any alterations carried out at the property. Your solicitor will work with you to respond to these enquiries as quickly as possible.

During this period, the buyer’s solicitor will also carry out property searches and review the buyer’s mortgage offer once issued. This stage can sometimes take time, particularly if third parties such as local authorities or management companies are involved.

Stage 4 | Exchange of Contracts

Estimated Timescale: Around Weeks 8 to 12

Before contracts can be exchanged, all legal enquiries must be resolved and both parties must be ready to proceed. The buyer’s mortgage offer should also be in place, and all contracts signed.

Once both solicitors confirm that everything is ready, contracts are formally exchanged and a completion date is agreed. At this point, the buyer pays their deposit, usually 10% of the purchase price.

After exchange of contracts has taken place, the transaction becomes legally binding. This means both the buyer and seller are committed to completing the sale on the agreed completion date.

Stage 5 | Completion Day

Estimated Timescale: 1 to 4 Weeks After Exchange

Completion day is when the sale is finalised and ownership of the property officially transfers to the buyer. On the agreed date, the buyer’s solicitor sends the remaining balance of funds to your solicitor.

Once the funds have been received and confirmed, the sale completes and authorisation is given for the keys to be released to the buyer. You will usually hand over the keys through our office unless alternative arrangements have been agreed.

At this point, you should ensure the property has been fully vacated and left in the agreed condition in line with the fixtures and contents form completed earlier in the transaction.

Stage 6 | Post-Completion

Estimated Timescale: Within 2 to 6 Weeks After Completion

Following completion, your solicitor will deal with any final legal and financial matters relating to the sale. This may include redeeming any outstanding mortgage secured against the property and forwarding any remaining balance of sale proceeds to you.

The buyer’s solicitor will then register the new ownership with HM Land Registry.

For leasehold properties, notices relating to the transfer and any mortgage charge may also be served on the freeholder or management company as part of the registration process.

We’re Here to Support You

Selling a property can feel overwhelming at times, particularly when there are multiple parties involved. Our team will continue to guide you throughout the process, provide regular updates, and assist wherever we can to help keep your sale progressing smoothly.

If you have any questions at any stage of the transaction, please do not hesitate to contact us.