Once the Offer Has Been Accepted: What Happens Next?

Understanding the Next Steps

When your offer on a property is accepted, it marks a major milestone - but it’s just the beginning of the buying process. From confirming your mortgage to completing contracts, several legal and financial steps must be completed before you can officially move in.

1. Ask the Seller to Take the Property Off the Market

Once your offer is accepted, request that the estate agent removes the property from listings. This prevents gazumping, where another buyer makes a higher offer. The agent may ask for your mortgage agreement in principle and solicitor’s details before confirming the withdrawal.

2. Complete Your Mortgage Application

 If you require a mortgage, submit your full application promptly. Lenders will ask for:

• Proof of identity and address.
• Payslips or tax returns showing income.
• Recent bank statements and utility bills.

A mortgage offer can take several weeks, so start early to avoid delays.

3. Appoint a Conveyancing Solicitor

Choosing a conveyancing solicitor is an important part of buying your property. The conveyancing solicitor will usually be responsible for the following legal work:

• Drafting and reviewing contracts.
• Conducting local authority searches.
• Handling fund transfers and liaising with the Land Registry.
• Providing legal advice throughout the process.

4. Arrange a Property Survey

A survey assesses the property’s condition and identifies potential structural or maintenance issues. Common survey types include:

• Level 1 (Condition Report) – basic overview.
• Level 2 (Homebuyer Report) – checks visible defects.
• Level 3 (Full Structural Survey) – comprehensive inspection.

Survey results can help you renegotiate the price or request repairs before exchange. Find out more about surveying services. 

5. Sign and Exchange Contracts

Once your solicitor confirms all checks are complete, you will exchange contracts with the seller. At this stage:

• The agreement becomes legally binding.
• You’ll pay a deposit, usually 10% of the property price.
• Both parties set a completion date.

After exchange, neither party can withdraw without financial penalties.

6. Completion Day

Completion is when funds are transferred and ownership officially changes. You’ll receive the keys from your estate agent and can move into your new home. Timelines vary depending on your property chain and removal arrangements.

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Frequently asked questions

How long does it take to complete after offer accepted?

There is no set time for how long completion takes. However, buying a property takes an average of three months from the time an offer has been accepted. It could take longer. You might be in a long property chain, or there may be complications with your purchase, such as any issues that the survey may reveal about the condition of the property.

What happens if my offer is accepted then rejected?

A seller is not legally obliged to stop marketing their property after an offer has been accepted. So they can still receive offers from other interested buyers. While not very ethical, it happens. If a seller then accepts another, higher offer, and rejects your original offer, you have been ‘gazumped’.

It may also be the case that a seller wants a quick sale, and prefers a cash buyer. They might even have accepted a lower offer than yours but from a buyer who does not require a mortgage. All you can do in these circumstances is put in a counter-offer and hope the seller changes their mind.

Is an offer on a house legally binding?

No, a buyer is not legally obliged to proceed with the purchase until exchange of contracts.

Does ‘under offer’ mean a house is sold?

No, a house is not sold when it is under offer. This means that an offer has been accepted on the property and it has been taken off the market by the estate agent, with a view to the buyer proceeding with the purchase.

Find your next home with haart

If you are interested in buying a property contact your local haart branch today.