Offer Accepted? Here's what happens next

Having an offer accepted on a property is an exciting moment! After weeks of searching, viewings, and negotiations, you've finally found a property you want to call home. However, while it may feel like the hard part is over, the legal process is only just beginning.

For many buyers, conveyancing can seem like a bit of a mystery... And I'm not surprised! Nobody teaches you about the process and you just end up finding out by yourself when you go through. There are solicitors, mortgage lenders, surveys, searches, enquiries, and a lot of paperwork involved and understanding what happens next can help make the process feel a little less overwhelming.

Step 1: Instruct a Conveyancer

One of the first things you'll need to do is instruct a conveyancer. Your conveyancer will handle the legal aspects of the purchase, liaise with the seller's solicitor, review the legal documentation, carry out searches, raise enquiries, and guide you through the transaction.

The sooner you instruct a conveyancer, the sooner the legal work can begin.

Many delays occur simply because buyers wait until later in the process before getting things started.

Not all conveyancers work in the same way, so it's worth doing a little research before instructing one. Buying a property can be stressful enough without struggling to get updates on your transaction. Looking at reviews, checking how a firm communicates, and understanding their typical response times can help you choose someone who will make the process feel much smoother.

Step 2: Get Your Funding in Place

Now your offer has been accepted, it's time to make sure your funding arrangements are progressing. If you are purchasing with the help of a mortgage, you may already have a Mortgage in Principle. However, your full mortgage application will usually need to be submitted so that the lender can begin their assessment of the property and your application.

Your conveyancer will also need to understand where your purchase funds are coming from. As part of anti-money laundering regulations, you may be asked to provide evidence of your deposit and any additional funds being used towards the purchase.

This could include:

• Bank statements.

• Savings account statements.

• Evidence of property sale proceeds.

• Investment or inheritance records.

• Gifted deposit documentation.

  
  

If any part of your deposit is being gifted by a family member or third party, it is important to let your conveyancer know as soon as possible, as additional checks and paperwork may be required. Providing this information early can help avoid delays later in the transaction and allows both your conveyancer and lender to start progressing matters straight away.

Step 3: Consider a Survey

Many buyers are surprised to learn that a mortgage valuation is not the same as a survey. A survey can help identify issues with the property that may not be immediately obvious, including structural concerns, damp, roof defects, or maintenance issues. Depending on the age, condition, and type of property, obtaining a survey can be a worthwhile investment.

Step 4: The Seller's Solicitor Issues the Contract Pack

The seller's solicitor will prepare and send a contract pack to your conveyancer.

This will usually include:

• The draft contract.

• Title documents.

• Property information forms.

• Fittings and contents information.

• Leasehold documentation where applicable.

  
  

Your conveyancer will review these documents carefully.

Step 5: Searches Are Ordered

Searches help reveal information about the property that may not be obvious from a viewing alone.

Common searches include:

• Local authority searches.

• Drainage and water searches.

• Environmental searches.

  
  

Depending on the property's location, additional searches may also be required.

Search results can reveal matters such as planning issues, road schemes, flood risk, mining activity, or other factors that may affect the property.

Step 6: Enquiries Are Raised

Once the contract pack and search results have been reviewed, your conveyancer may raise enquiries with the seller's solicitor. These enquiries are designed to clarify any issues or obtain additional information before you commit to the purchase.

The number and complexity of enquiries will vary from property to property.

Some transactions proceed smoothly, while others may require more detailed investigation.

Step 7: Your Mortgage Offer Is Issued

Assuming everything is satisfactory, your lender will issue a formal mortgage offer.

Your conveyancer will review the lender's instructions and ensure any requirements are satisfied before completion can take place.

Step 8: Signing Documents

As the transaction progresses, you will be asked to review and sign various documents.

Your conveyancer will also provide a report explaining the legal title, search results, enquiries, and any matters you should be aware of before proceeding. This is your opportunity to ask questions and ensure you fully understand the property you are purchasing.

Step 9: Exchange of Contracts

Exchange of contracts is one of the most significant milestones in the transaction.

Once contracts are exchanged:

• The transaction becomes legally binding.

• A completion date is agreed.

• Neither party can simply walk away without consequences.

  
  

Many buyers mistakenly believe they are committed when their offer is accepted, but this is not the case. Until exchange takes place, either party can generally withdraw from the transaction.

Step 10: Completion Day

Completion day is when ownership of the property officially transfers to you.

Your conveyancer sends the purchase funds to the seller's solicitor, and once the funds have been received, the estate agent can release the keys. This is the day you finally get to move in and start making the property your own.

Frequently Asked Questions

How long does conveyancing take?

Every transaction is different. Factors such as chains, mortgage approvals, searches, leasehold requirements, and enquiries can all affect timescales.

Do I need a survey?

While surveys are not legally required, many buyers choose to obtain one for peace of mind and to identify any potential issues with the property.

Can the seller change their mind after accepting my offer?

Yes. Until contracts are exchanged, either party can generally withdraw from the transaction.

What is the biggest cause of delay?

There is rarely one single cause. Delays can arise from chains, mortgage lenders, management companies, searches, enquiries, missing paperwork, or simply waiting for information from third parties.

When should I instruct a conveyancer?

Ideally, as soon as your offer is accepted. Early instruction allows work to begin immediately and can help avoid unnecessary delays.

Final Thoughts

Having your offer accepted is an exciting milestone, but it is only the start of the conveyancing journey. While every transaction is different, understanding the key stages of the process can help reduce uncertainty and make the experience less stressful. I regularly assists buyers from the moment their offer is accepted through to completion day, providing clear communication and guidance throughout the process so clients always know what happens next.