What Happens After Offer Accepted on a House

What Happens After an Offer Is Accepted on a House?

Having your offer accepted on a house is an exciting moment. It feels like the finish line is within reach, but in reality, it is only the start of the formal purchase process. Whether you are a first time buyer or a seasoned mover, understanding what happens next is essential to navigating the weeks ahead with clarity and confidence.

The time between having an offer accepted and picking up the keys involves a number of legal, financial and practical steps. From instructing a solicitor to arranging surveys and exchanging contracts, each phase has its own role in protecting your investment and preparing the property for completion. In this article, we will walk through what you can expect after your offer has been accepted, how long the process usually takes and how to avoid common delays.

The Offer Is Accepted but Nothing Is Legally Binding Yet

Once the seller has accepted your offer, the property is considered sold subject to contract. This means both parties have reached an agreement in principle, but until contracts are exchanged, either side can legally change their mind. This period can last several weeks, during which time your solicitor, mortgage lender and surveyor will all play important roles.

At this stage, you should confirm the acceptance in writing and instruct your solicitor to begin the conveyancing process. If you are using a mortgage, it is important to inform your lender so they can begin the valuation and final approval. The seller will also take the property off the market if they are serious about proceeding, although in some cases, they may continue to accept viewings until exchange.

The Conveyancing Process Begins

Conveyancing is the legal process of transferring ownership of the property from the seller to you. Your solicitor or licensed conveyancer will conduct a series of checks to ensure that the legal title is sound and that there are no hidden issues such as restrictive covenants, planning breaches or boundary disputes.

The seller’s solicitor will provide a draft contract and a set of legal documents, including the property title and answers to standard enquiries. Your solicitor will then review these documents and may raise further questions if anything requires clarification. This can include checking building control certificates, warranties, planning permissions or service charges if the property is leasehold.

This stage is crucial for protecting your legal position and making sure that the home you are buying is exactly as it seems. Any problems identified here can be resolved through negotiation, repair or even renegotiation of the price.

Your Mortgage Offer and Property Valuation

If you are relying on a mortgage, your lender will now arrange a valuation to confirm that the property is worth the agreed price. This is not the same as a structural survey. It is a basic check to satisfy the lender that the property is suitable for the loan.

Once the valuation has been completed and your lender is satisfied with your documentation, a formal mortgage offer will be issued. This is a legally binding document and will be sent to both you and your solicitor. It outlines the terms of your loan and confirms the amount, interest rate and repayment period. Without this document, you cannot proceed to exchange contracts.

It is important to note that if the valuation comes back lower than your offer price, you may have to make up the difference yourself or renegotiate the purchase price. Your solicitor and estate agent can guide you through this if it occurs.

Property Survey and Homebuyer Checks

Although not a legal requirement, it is strongly recommended that you arrange a survey on the property. A RICS Home Survey will give you a professional assessment of the property’s condition, highlighting any structural issues, damp, roof problems or outdated systems such as wiring or plumbing.

For older homes or those in visible disrepair, a full structural survey may be advisable. The results of the survey may influence your decision to proceed or give you grounds to renegotiate the price if significant repairs are needed. In some cases, buyers use the findings to request that the seller address certain problems before exchange.

Even if the house appears in good condition, a survey offers peace of mind and may reveal hidden issues that could prove costly after completion.

Exchange of Contracts

Once all enquiries have been answered, the mortgage offer is confirmed and you are satisfied with the results of your survey, you will be ready to exchange contracts. This is the point at which the sale becomes legally binding. Both buyer and seller sign identical contracts, and your solicitor will arrange for them to be exchanged simultaneously with the seller’s solicitor.

At this stage, you will also pay a deposit, typically ten percent of the purchase price, which is held by the seller’s solicitor. The completion date is agreed at the point of exchange, and from that moment, neither party can pull out without significant penalties.

Your solicitor will also ensure that buildings insurance is in place from the day of exchange, as you become legally responsible for the property at this point.

Completion and Moving Day

Completion is the day the remaining balance is transferred from your solicitor to the seller’s solicitor and the keys are handed over. This typically happens a week or two after exchange, although some transactions complete on the same day. On completion day, your solicitor will ensure that all finances are settled, the Land Registry is notified, and the stamp duty is paid on your behalf.

Once the funds are received, the estate agent or seller will release the keys and the property is officially yours. You can move in, begin renovations or let it out if it is a buy to let purchase. It is wise to carry out a final inspection shortly before completion to ensure that the property is in the agreed condition.

Who Is Involved and What They Do

Several professionals work together during the post offer process. Your solicitor manages the legal side, including searches, contract checks and liaising with the seller’s solicitor. Your mortgage lender provides the funding and instructs the valuation. A surveyor may be hired independently to assess the property’s condition. The estate agent remains involved in coordinating communication and ensuring that timelines are met on both sides.

If the chain is short or the property is vacant, the process can move quickly. In longer chains, delays can occur if another transaction in the chain runs into problems. Keeping in close contact with your solicitor and estate agent will help you stay informed and deal with issues quickly if they arise.

How Long Does It Take and What Can Delay It?

On average, the time from offer accepted to completion in the UK takes between eight and twelve weeks. However, this can vary depending on the chain, mortgage approval time, survey findings and responsiveness of all parties.

Common causes of delay include slow responses to legal enquiries, missing documents, delays in mortgage processing or issues raised by the survey. In leasehold purchases, delays can also come from the management company or freeholder providing essential information. Being organised, proactive and responsive can help you avoid unnecessary setbacks.

Final Thought

Having your offer accepted is a major milestone, but the road to completion still requires careful management. With the right team and an understanding of what to expect, you can navigate the legal and practical steps with confidence. Stay in regular contact with your solicitor, be prepared for each stage and make informed decisions based on professional advice. The process can be complex, but it leads to one of the most rewarding moments in property ownership.