Having an offer accepted on a property is an exciting milestone. However, many buyers are unsure what happens next and how the conveyancing process actually works.
This guide explains the key stages that follow once an offer has been accepted and what you can do to help your transaction progress as smoothly as possible.
One of the first things you should do after your offer has been accepted is instruct a conveyancer.
Your conveyancer will:
Verify your identity
Carry out anti-money laundering checks
Obtain information regarding your source of funds
Issue client care documentation
Contact the seller's solicitor
Providing information promptly at the outset can help avoid delays later in the transaction.
If you require a mortgage, you should submit your application as soon as possible.
The lender will usually:
Carry out affordability checks
Review supporting documentation
Arrange a valuation of the property
Your conveyancer will also receive a copy of the mortgage offer once it has been issued.
The seller's solicitor will prepare and send a package of documents to your conveyancer.
This typically includes:
Draft contract
Title documentation
Property Information Form
Fixtures and Fittings Form
Additional supporting documentation
Your conveyancer will carefully review these documents before reporting to you.
Searches are an important part of the conveyancing process.
Common searches include:
Provides information regarding:
Planning permissions
Building regulations
Road schemes
Enforcement notices
Confirms:
Water supply arrangements
Drainage connections
Public sewer locations
Identifies potential issues such as:
Flood risk
Land contamination
Ground stability concerns
Additional searches may be required depending on the location of the property.
Your conveyancer will investigate the legal title and raise enquiries with the seller's solicitor where necessary.
Enquiries may relate to:
Boundaries
Rights of way
Planning matters
Building regulations
Guarantees and warranties
Leasehold arrangements
Building Safety Act requirements
This stage is essential because it helps identify potential issues before you become legally committed to the purchase.
Once the lender is satisfied, a formal mortgage offer will be issued.
Your conveyancer will:
Review the mortgage instructions
Ensure lender requirements are satisfied
Report any relevant conditions to you
As the transaction progresses, your conveyancer will provide advice and documentation for signature.
This may include:
Contract documentation
Mortgage deed
Transfer documentation
You will also receive a detailed report explaining the legal position and any matters that require your attention.
Once all parties are ready, a completion date can be agreed.
This is the date on which ownership of the property will transfer and keys will be released.
The completion date must work for:
Buyer
Seller
Mortgage lender
Any parties involved in a chain
Exchange of contracts is one of the most important milestones in the transaction.
At exchange:
The transaction becomes legally binding
The completion date is fixed
Neither party can withdraw without legal consequences
Prior to exchange, either party may still withdraw from the transaction.
On the day of completion:
Purchase funds are transferred
Ownership changes hands
Keys are released by the estate agent
You can move into your new home
Congratulations – you are now the legal owner of the property.
Whilst many transactions proceed smoothly, delays can arise due to:
Mortgage processing times
Search delays
Leasehold enquiries
Property chains
Gifted deposits
Source of funds enquiries
Building Safety Act requirements
Missing documentation
Early preparation and prompt responses can help reduce the likelihood of delay.
You can assist your transaction by:
Instructing a conveyancer early
Submitting your mortgage application promptly
Providing identification documents without delay
Preparing source of funds evidence
Responding quickly to requests for information
Informing your conveyancer about gifted deposits at the outset
Buying a property can feel complex, particularly for first-time buyers. Understanding the key stages of the conveyancing process can help reduce uncertainty and ensure that you know what to expect.
My aim is to guide clients through every stage of the transaction, provide clear advice and proactive communication, and help ensure that the process progresses as smoothly as possible from offer acceptance through to completion.