What Happens After an Offer on a House Is Accepted?
You’ve found your dream home, made an offer, and the seller has accepted. Or perhaps you’re the homeowner who’s just agreed to sell. But what actually happens next?
Having an offer accepted is an exciting milestone, but it’s important to understand that the property transaction isn’t complete just yet.
Whether you’re buying or selling privately or through an estate agent, there are several important steps before the keys change hands.
Here’s what you need to know.
- Instruct a solicitor or conveyancer
Once an offer has been accepted, both the buyer and seller should appoint a solicitor or licensed conveyancer to handle the legal process.
This process is known as conveyancing.
Your solicitor or conveyancer will help with:
- Preparing and reviewing contracts.
- Checking property ownership and legal documentation.
- Carrying out or reviewing property searches.
- Raising and answering legal enquiries.
- Arranging the exchange of contracts.
- Handling the transfer of money and ownership.
Even when buying or selling privately, professional legal assistance is strongly recommended.
- The buyer arranges their mortgage
If the buyer needs a mortgage, they will normally proceed with a full mortgage application.
The lender will assess their finances and arrange a property valuation before deciding whether to issue a mortgage offer.
A mortgage agreement in principle is not the same as a confirmed mortgage offer.
For sellers, understanding a buyer’s financial position can help reduce uncertainty, although no transaction is guaranteed until the legal process is completed.
- Property searches are carried out
The buyer’s solicitor or conveyancer will usually arrange searches to identify information that could affect the property.
These may include:
- Local authority searches.
- Water and drainage searches.
- Environmental searches.
- Other searches relevant to the property’s location.
Searches can reveal issues such as planning restrictions, drainage arrangements or environmental risks.
- The buyer may arrange a property survey
A mortgage valuation is primarily for the lender’s benefit and is not the same as a detailed survey of the property’s condition.
Buyers may choose to commission an independent property survey.
Depending on the survey selected, it may identify potential problems such as:
- Damp or moisture.
- Roof defects.
- Structural concerns.
- Electrical or plumbing issues.
- Maintenance and repair requirements.
If significant problems are discovered, the buyer may request further investigations or discuss the purchase price with the seller.
- Solicitors raise enquiries
During conveyancing, the buyer’s solicitor may ask the seller questions about the property.
These can relate to:
- Property boundaries.
- Planning permissions and building work.
- Disputes with neighbours.
- Fixtures and fittings included in the sale.
- Legal rights and restrictions.
- Guarantees and certificates.
Sellers should answer enquiries accurately and provide relevant documents where available.
- Exchange of contracts
This is one of the most important stages of buying or selling a property.
In England and Wales, accepting an offer does not normally create a legally binding property sale.
The transaction generally becomes legally binding when contracts are exchanged.
Before exchange, either party may usually withdraw, although they could lose money already spent on legal work, surveys and other costs.
Once contracts have been exchanged, pulling out can have serious financial and legal consequences.
The buyer and seller will also agree on a completion date.
- Completion day – time for the keys!
Completion is the day the property officially changes ownership.
On completion day:
- The buyer’s solicitor transfers the purchase money.
- The seller’s solicitor confirms receipt of the funds.
- The keys are released to the buyer.
- The buyer can move into their new home.
- The seller must leave the property according to the agreed contract.
It’s the moment everyone has been working towards!
How long does the process take?
There is no guaranteed timescale between having an offer accepted and completing a property purchase.
Some transactions progress relatively quickly, while others take several months.
Possible causes of delays include:
- Mortgage application difficulties.
- Missing documents.
- Problems highlighted by surveys.
- Delays with property searches.
- Lengthy property chains.
- Outstanding legal enquiries.
Keeping communication clear and responding promptly to requests can help the process move forward.
Can you buy or sell a house without an estate agent?
Yes.
In England, homeowners can advertise their property privately and communicate directly with potential buyers.
A traditional estate agent is not legally required for every property sale.
However, the legal process of transferring ownership still needs to be handled correctly.
That’s where an online advertising platform such as HownIt can offer an alternative way to connect.
HownIt brings buyers, private sellers, landlords and estate agents together in one place.
Property owners can advertise their homes, and interested buyers can make enquiries directly through the platform.
HownIt does not act as an estate agent or handle the legal conveyancing process.
Making your next move
Whether you’re buying your first home, selling a family property or looking for somewhere new, understanding the process can help you feel more confident about the journey ahead.
From accepting an offer to collecting the keys, each stage brings you closer to your next chapter.
Looking to buy, sell or advertise a property?
Explore properties and discover a different way to advertise at www.hownit.com.
Disclaimer: This article provides general information about residential property transactions in England and Wales. It is not legal, mortgage or financial advice. Always seek appropriate professional guidance for your circumstances.
