Accepting an offer on your property is a significant milestone, but it's important to remember the sale isn't finalised until contracts have been exchanged and completion has taken place.
Knowing exactly what to expect during this period can help you manage the process smoothly and minimise stress.
Having helped over a million of UK homeowners through this process, we’ve broken down exactly what happens next, step by step. We’ll highlight the important things you need to look out for, share some tips, and help you feel fully prepared and in control.
Quick Guide
Take your property off the market
Instruct a conveyancer
Consult a mortgage broker
Prepare for the buyer's survey
Exchange contracts
Book a removals company
Complete the sale
Jump to more detailed instructions below.
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Used by over 1.5 million movers in the UK
1. Take the Property off the Market
Once an offer is accepted on a house, it's common practice to take the property off the market to demonstrate your commitment to the buyer.
The property will typically be marked as "Sold Subject to Contract" (SSTC), which usually means the buyer will move faster as it shows you're serious.
However, you can technically still accept other offers until contracts are exchanged. Doing so, however, can complicate the sale.
2. Hire a Conveyancer
Selecting a reliable conveyancer is crucial, as they handle all legal aspects of your property sale. Your conveyancer will manage contracts, undertake necessary searches, and facilitate the exchange and completion processes.
Take time to choose carefully, as this is someone you'll rely on heavily over the next few months. Make sure they're experienced, prompt to reply, and transparent about fees. Also, ask how they typically communicate and what turnaround times to expect. Communication delays are one of the most common causes of stalled transactions.
It can be useful to compare conveyancers to find the best option for your budget and property.
3. Hire a Mortgage Broker
If your home has an outstanding mortgage, a mortgage broker can save you considerable hassle by liaising directly with your lender. They’ll advise you clearly on repayment details and any potential fees or early repayment charges, making sure you're not blindsided financially.
4. Await the Buyer’s Property Survey
Your buyer will typically have a RICS House Survey carried out on the property to assess its condition before the exchange of contracts.
If the survey identifies problems, especially structural issues or damp, your buyer may ask for a reduced price or even withdraw from the sale. If this happens, it's important not to panic, as this is common practice.
You can get ahead of this by identifying any obvious maintenance issues yourself early on, and secure quotes for common repairs so you can respond confidently to any buyer challenges.
5. Exchange of Contracts
Once you and the buyer are happy with the details of the sale, your conveyancer will arrange the exchange of contracts. At this point, your sale is legally binding, and if either party pulls out of the sale at this stage, significant charges apply. This is why it's essential to ensure everything is correct before this stage.
6. Book a Removals Company
If you're moving to a new home or have personal goods in the property you're selling, it's useful to hire a moving company. This will reduce moving stress, and the movers will carry out all the heavy lifting for you.
Ideally, book the removals company around 4-6 weeks in advance of your move to ensure they have availability for your moving date.
7. Completion Day
Your completion date marks the end of the conveyancing process and your property sale. On your completion day, the transfer of ownership from you to the buyer is complete, and your conveyancer will ensure all payments have been made and details transferred.
Upon completion, the keys are transferred, and the sale is finalised.
Save money on your conveyancing costs
Accredited property conveyancers
Used by over 1.5 million movers in the UK
Next Steps: Find a Conveyancer
Here at Compare My Move, we can connect you with up to 6 conveyancers in your local area through our online form and help you save on your conveyancing costs. All our conveyancing partners have passed our strict verification process and are regulated by either the SRA, CLC, LSS, LSNI or CILEx.
Need a Surveyor?
Once you've found a conveyancer, you may need a RICS property surveyor. Use our integrated conveyancing and surveying comparison form to get connected today.
