Offer accepted: establish what is still conditional
Confirm price, buyer identity, fixtures included and any funding or chain dependencies. Ask whether the buyer has inspected and what could change the offer. The agent can update a sales memorandum, but that is not the contract.
Instruct your conveyancer and ask for a clear document list. Tell them about your intended timetable, mortgage, leasehold arrangements and any probate or joint-ownership issues.
Contract pack, searches and enquiries
The seller’s adviser prepares title and contract information, while the buyer’s adviser investigates it and raises enquiries. Searches and a survey are different checks; neither should be assumed unnecessary just because the buyer uses cash.
Reply accurately and supply supporting documents. If you do not know an answer, ask your conveyancer how to respond rather than guessing. Request updates on outstanding items, including information from a freeholder or managing agent.
Binding agreement and completion date
In an ordinary England-and-Wales private sale, exchange of contracts normally creates the binding commitment. Agree the completion date through the advisers before exchange. Auction contracts may bind earlier under their own terms.
Do not equate a reservation agreement, lock-in or initial offer with exchange. Your solicitor should explain exactly what each document obliges you to do.
Completion and money transfer
The buyer’s solicitor sends the funds and the seller’s adviser completes the legal and financial steps, including mortgage redemption where applicable. Ask for a completion statement showing deductions and proceeds.
Verify account details by a trusted method, arrange keys through the agreed channel and take utility readings. Keep records for any tax reporting; a property sale can create obligations after you have moved.
Sources & review
Last reviewed:
Legal-process explanations primarily cover England and Wales. No national average price discount, completion time or fall-through rate is claimed here; calculator figures are labelled scenarios.
- GOV.UK — How to sell a home
England and Wales: selling costs, paperwork, leasehold information, valuations, chains and legally binding exchange (sections 2–7, 16–17 and 21–22).
- CMA / OFT — Quick house sales investigation
Historical investigation (2013–14): quick-sale firms usually buy at a discount; undertakings address misleading offers, price reductions and completion promises. This is not a current market-price or speed survey.
- HMRC — Tax when you sell your home
Private Residence Relief can exempt a qualifying main home; second homes and let properties may create a taxable gain. Relief has conditions.
- GOV.UK — Energy Performance Certificates
An EPC must normally be ordered before marketing for sale or rent; exemptions apply.
Review dates record our source check, not the date a rule took effect. Rules can change; check the linked guidance before acting. Legal processes differ across the UK.