What happens after accepting an offer?
Once you accept an offer on your property, things begin to move towards the legal completion of the sale. While it might feel like the hardest part is over, there are still a number of important steps ahead. These include finalising the legal contract, completing due diligence, preparing for your move, and ensuring everything is ready for the date of entry.
This stage is often referred to as the conveyancing process, and your solicitor estate agent will guide you through it from start to finish.
Missives: the legal contract
The first major step after accepting an offer is the exchange of missives. In Scotland, missives are a series of formal letters between your solicitor and the buyer’s solicitor. Each letter sets out and agrees to specific conditions of the sale, such as the agreed price, the entry date, and any other relevant terms.
These letters form the basis of the legal contract. Once both parties are happy with the terms and all outstanding issues are resolved, the missives are said to be concluded. At that point, the contract becomes legally binding, and both you and the buyer are committed to completing the sale.
Until the missives are concluded, either party could technically walk away from the sale, although this is rare and generally discouraged unless there is a major issue.
Your solicitor will keep you informed throughout this process, making sure you understand each stage and that all paperwork is handled correctly and without unnecessary delays.
Title deeds and legal checks
During the conveyancing stage, your solicitor will prepare the legal documents needed to transfer ownership of the property. This includes checking the title deeds to confirm you are the rightful owner and that there are no legal complications associated with the property, such as restrictions or outstanding securities.
They will also answer any legal questions raised by the buyer’s solicitor, and ensure all necessary information is passed on. This might include planning permissions, building warrants, guarantees for past work carried out on the property, and any other documents relevant to the sale.
If you still have a mortgage on the property, your solicitor will liaise with your lender to arrange for the outstanding balance to be repaid using the proceeds of the sale.
Preparing for the move
Once missives are concluded, the sale becomes legally binding, and it is time to begin preparing in earnest for your move.
You will need to:
- Arrange removals or transport for your belongings
- Notify utility providers, your local council, and relevant service providers
- Begin forwarding post through Royal Mail’s redirection service
- Finalise arrangements for your new accommodation, whether you are buying, renting, or moving in with family
It is also important to ensure the property is ready for handover. This typically means cleaning the home, removing all belongings unless agreed otherwise, and making sure all keys, manuals and relevant documents are available for the buyer.
Date of entry
The date of entry is the agreed day when ownership of the property transfers from you to the buyer. On this day, the buyer’s solicitor will transfer the full purchase price to your solicitor, and in return, your solicitor will release the keys and legal documents.
Once funds have cleared and legal paperwork has been completed, the transaction is officially complete. You are no longer the owner of the property, and the buyer is free to move in.
It is important to ensure that you vacate the property in good time before the entry date. Leaving it in the agreed condition and handing over all keys through your solicitor’s office is part of your obligation as the seller.
Handling delays or issues
In some cases, delays can occur between accepting an offer and concluding missives. These might be due to the buyer awaiting mortgage approval, legal issues arising from the title deeds, or complications uncovered during further surveys.
Your solicitor estate agent will help manage these delays and keep you informed. Their role is to protect your interests and ensure that you are not exposed to unnecessary risk.
If the buyer attempts to make late changes to the offer, your solicitor will advise you on your options and negotiate accordingly. While flexibility is sometimes needed, it is important that any changes are fair and reasonable.
Accepting an offer is a major milestone, but it is only one part of the journey. With the right support from your solicitor estate agent, the period between offer and completion can run smoothly and without stress.
Their role is to handle the legal side of things, answer your questions, and make sure you are ready to hand over the property at the right time and in the right condition. By staying in regular contact and following their guidance, you can ensure that your sale completes successfully and on time.
This is the final stretch of the selling process, and although there may still be a few decisions to make, you are now well on your way to a successful outcome.