Offer Acceptance: Next Steps

What Happens After Offer Acceptance?

When your offer is accepted, it marks the beginning of the formal buying process. Here's what you need to know about the next steps and what to expect.

Immediate Actions

  • Formally instruct your solicitor
  • Submit full mortgage application
  • Book property survey
  • Arrange buildings insurance

Legal Process Begins

  • Solicitor starts searches
  • Draft contracts are prepared
  • Property title is checked
  • Enquiries are raised with seller

Important Considerations

Key Milestones

  • • Survey results review
  • • Mortgage offer received
  • • Search results returned
  • • Enquiries answered
  • • Exchange date agreed

Potential Challenges

  • • Survey issues
  • • Chain complications
  • • Mortgage delays
  • • Legal queries
  • • Gazumping risks

Protecting Your Position

Recommended Actions

  • ✓ Request property be taken off market
  • ✓ Get agreement in writing
  • ✓ Set clear timelines
  • ✓ Keep regular communication

Warning Signs

  • ⚠ Seller delays responses
  • ⚠ Property still marketed
  • ⚠ New conditions added
  • ⚠ Unexpected price changes

Remember: Until contracts are exchanged, the agreement is not legally binding. Stay proactive and keep the process moving forward.