Quick answer
Once an offer is accepted, the buyer instructs a solicitor, submits the mortgage application, arranges (or skips) a survey, waits for searches and enquiries to complete, then moves toward exchange of contracts and completion.
In England, Wales and Northern Ireland an accepted offer isn’t legally binding until exchange of contracts — which usually happens 8–14 weeks after offer accepted. Either side can pull out before then.
This article focuses on the England and Wales process. Scotland uses a different system where offers go through solicitors and the missives exchange can make a deal binding earlier.
For the steps before this — choosing an offer amount, what to tell the agent, and what to do if the offer is rejected — see how to make an offer on a house.
The post-offer timeline
Twelve stages run from offer accepted through to picking up the keys. Some run in parallel (mortgage and survey), others have to wait their turn (exchange and completion).
- 1
Offer accepted
Estate agent confirms acceptance verbally and in writing. Property usually marked Sold STC (subject to contract).
- 2
Memorandum of sale issued
Estate agent sends a memorandum of sale to both sides confirming price, addresses, and the chosen solicitors.
- 3
Solicitor or conveyancer instructed
Both sides formally instruct their legal representative. The buyer's solicitor opens a file and sends initial paperwork.
- 4
Mortgage application submitted
Buyer (often via their broker) submits a full mortgage application with documents. Lender begins underwriting.
- 5
Lender valuation
Lender arranges a valuation of the property. This is for the lender, not for the buyer — usually a brief check.
- 6
Buyer survey (separate)
Buyer optionally arranges their own homebuyer report or building survey. Findings can prompt renegotiation or further enquiries.
- 7
Searches ordered
Buyer's solicitor orders local authority, water/drainage, environmental and other searches. Turnaround varies by council.
- 8
Draft contract pack reviewed
Seller's solicitor sends a draft contract and supporting documents (title, fittings list, property information form) to the buyer's solicitor.
- 9
Enquiries raised and answered
Buyer's solicitor raises enquiries — anything from boundary questions to compliance certificates. Both sides exchange answers.
- 10
Mortgage offer issued
Once underwriting and valuation are happy, the lender issues a formal mortgage offer to the buyer and the solicitor.
- 11
Exchange of contracts
Both sides sign and exchange contracts. The buyer's deposit transfers. The deal becomes legally binding. A completion date is fixed.
- 12
Completion and keys
Funds transfer, the property legally changes hands, and the keys are released — usually via the estate agent.
For typical durations of each stage, see how long does buying a house take?
Who does what?
Six different parties play a role between offer accepted and completion. Knowing who handles what makes it easier to chase the right person when something stalls.
Estate agent
Confirms the accepted offer in writing, issues the memorandum of sale, and chases both sides through to exchange. They don't do the legal work.
Mortgage broker / lender
Submits the mortgage application, arranges the valuation, runs underwriting, and issues the formal mortgage offer. A broker keeps you updated; a direct application means dealing with the lender yourself.
Solicitor / conveyancer
Handles every legal step: searches, contract review, enquiries, title checks, exchange, completion, stamp duty return, Land Registry. Most of the timeline is in their hands.
Surveyor
Carries out the buyer's survey (homebuyer report or building survey) if you commission one. Separate from the lender's valuation.
Buyer (you)
Provides documents quickly, signs forms returned by your solicitor, transfers the deposit on exchange, replies to questions promptly, and stays in touch with the broker.
Seller
Provides title and property information, answers enquiries via their solicitor, and signs contracts on exchange.
For a deeper look at what your solicitor actually does — searches, enquiries, contract review, registration — see what is conveyancing? For a deeper look at what the surveyor checks and how to choose a survey level, see what does a property survey check?
What documents might you need?
Lenders and solicitors won’t progress your case without a fairly standard set of documents. Having them ready before offer accepted speeds up the post-offer phase noticeably.
- Photo ID (passport or driving licence)
- Proof of address (recent utility bill or bank statement)
- Proof of deposit (savings account statements showing the funds)
- Gifted deposit letter (if any of the deposit is from family)
- Last 3 months of bank statements
- Last 3 months of payslips, or 2–3 years of accounts if self-employed
- Mortgage agreement in principle and, later, the formal mortgage offer
- Solicitor's client onboarding forms and source-of-funds declarations
What can delay exchange?
Most timeline overruns trace back to one of these. Knowing them upfront makes it easier to spot trouble early.
- Slow replies between solicitors
Conveyancing involves a lot of back-and-forth. A slow firm on either side can add weeks.
- Missing or late documents
Lenders and solicitors won't progress without complete paperwork. Get yours ready early.
- Survey issues
Major findings (damp, structural, roof) often trigger specialist reports or renegotiation.
- Valuation issues
If the lender's valuation comes in below the offer price, you may need to renegotiate, top up the deposit, or change lender.
- Mortgage offer delays
Underwriting can flag affordability or credit questions that need extra information.
- Leasehold or title questions
Leasehold purchases need a management pack from the freeholder. Short remaining leases or unusual covenants can stall things.
- Gifted deposit paperwork
Lenders need a gifted deposit declaration plus source-of-funds checks. These often take longer than buyers expect.
- Chain problems
If anyone in the chain hits a delay, exchange typically waits for everyone.
- Searches and enquiries
Local authority search response times vary widely. Your solicitor can chase but can't speed them up.
How to stay organised after offer accepted
The biggest buyer-side cause of delays is missing or slow paperwork. Seven habits that keep things moving:
- 1Choose your solicitor quickly. Recommendations and reviews matter — the difference between a fast and a slow conveyancer is often weeks.
- 2Keep your broker or lender updated. If anything changes (job, income, debts), tell them early.
- 3Respond to solicitor forms within a day or two. Forms left for weeks are the most common buyer-side delay.
- 4Keep your deposit evidence ready. Statements, gifted deposit paperwork, and source-of-funds documents in one folder.
- 5Book your survey early if you want one. Surveyor availability is a real bottleneck in busy markets.
- 6Avoid new credit commitments. New cards, loans, or BNPL can affect the mortgage offer between application and exchange.
- 7Keep a simple timeline. Dates of mortgage application, survey, searches, enquiries, exchange and completion in one place.
The HomeReady tools that help most at this stage:
FAQs
Quick answers to the questions UK first-time buyers most often ask after their offer is accepted.
Is an accepted offer legally binding?+
In England, Wales and Northern Ireland — no. An accepted offer is binding only at exchange of contracts, which usually happens weeks later. Either side can pull out before exchange. Scotland uses a different system where offers can become binding earlier.
What is a memorandum of sale?+
A short document the estate agent issues after an offer is accepted, confirming the agreed price, the parties involved, and the chosen solicitors on both sides. It kicks off the conveyancing process but is not a legal contract.
When should I instruct a solicitor?+
As soon as your offer is accepted, ideally within a few days. The earlier they're instructed, the earlier they can order searches — which often have the longest lead time of the whole process.
When do I apply for the mortgage?+
Right after offer accepted, usually via the broker who issued your agreement in principle. The lender needs your full application before they'll order the valuation or run underwriting.
Should I get a survey after my offer is accepted?+
Strongly recommended for most first-time buyers. The lender's valuation isn't a survey — it doesn't tell you about the property's condition. A homebuyer report or building survey can flag damp, structural, roof or drainage issues before exchange.
What is exchange of contracts?+
The legal moment the deal becomes binding. Both sides' solicitors swap signed contracts and the buyer's deposit transfers. After exchange, neither party can pull out without significant cost. Completion is usually scheduled 1–4 weeks later.
What happens on completion day?+
The mortgage funds and balance of the purchase price transfer from the buyer's solicitor to the seller's solicitor. Once received, the seller's solicitor releases the keys via the estate agent. The property is legally yours.