A Clear Guide for Buyers and Sellers
The moment an offer is accepted feels like the finish line. In reality, it’s the starting point. So what happens after an offer is accepted? From here, the sale becomes a sequence of legal, financial and practical steps that most people never fully see.
To move confidently, buyers and sellers need to understand both sides of the journey.
Memorandum of Sale
Where everything officially begins.
Seller: Your agent formalises the agreement. Names, solicitors, price, conditions. It sets the transaction in motion.
Buyer: This is your signal to instruct your solicitor and begin your mortgage process. It confirms the deal exists.
Solicitors Instructed
The pace of the entire sale is decided here.
Seller: Your solicitor collects ID, gathers documents and prepares the contract pack. The sooner this is sent, the sooner real progress begins.
Buyer: Your solicitor waits for the contract pack, then prepares to review it and raise enquiries. Early instruction saves weeks later.
Mortgage Application and Valuation
The financial engine of the transaction.
Buyer: You complete your mortgage application. The lender assesses affordability and commissions a valuation to confirm the property is worth the loan.
Seller: You wait for the valuation outcome. A smooth valuation keeps the sale on track. A down-valuation may require renegotiation.
Searches Ordered
The hidden due-diligence.
Buyer: Your solicitor orders local authority, water, drainage and environmental searches. These uncover anything that could affect the property.
Seller: You don’t see these searches, but delays here are common and depend heavily on the local authority’s speed.
Enquiries Raised
Where clarity matters most.
Buyer: Once the contract, searches and valuation are reviewed, your solicitor raises enquiries. These can be few or many, but they are fundamental to protecting you.
Seller: Your solicitor responds using the documents you provide: guarantees, certificates, planning history. Missing information slows everything down and may raise issues unnecessarily.
Surveys (If the Buyer Orders One)
A deeper look at condition.
Buyer: You may choose a HomeBuyer Report or a full structural survey for reassurance.
Seller: If problems appear, expect a conversation. Not all findings are serious, but surveys often influence final negotiations.
Final Negotiations
Adjustments, clarifications, or reassurance.
Buyer: If something unexpected arises, damp, electrics, missing documentation, this is the moment to discuss solutions.
Seller: The aim is not to “win” but to keep the sale moving. Pragmatism usually gets everyone to completion faster.
Mortgage Offer Issued
A major turning point.
Buyer: The lender has approved everything. You now have a formal mortgage offer.
Seller: This confirms the buyer’s finances are secure. One of the biggest hurdles is cleared.
Signing the Contract
Close, but not binding yet.
Buyer: You sign your contract and prepare deposit funds.
Seller: You sign yours once all enquiries are resolved.
Nothing is locked in until the next stage.
Exchange of Contracts
The legally binding moment.
Buyer: You pay the deposit, usually 10%. The completion date is fixed. You are now legally committed.
Seller: You are committed too. Insurance responsibility usually shifts to the buyer at this point. You can begin planning the move.
Completion Day
The end of the process and the start of the next chapter.
Buyer: Your solicitor transfers the balance. Once confirmed, you receive the keys and the property becomes legally yours.
Seller: Your solicitor redeems any mortgage, deducts fees and transfers the remaining funds to you. The property officially changes hands.
Two Perspectives, One Journey
For buyers, the process is about clarity and protection.
For sellers, it’s about momentum and preparation.
For both, a smooth sale comes from communication, organisation and proactive management at every stage.
