# Offer accepted: what happens next for buyers and sellers? Posted 1/10/2026 by [Alex Bland](/blog/authors/alex-bland) After an offer is accepted, the mortgage, survey, searches and legal work begin. In England, the transaction becomes legally binding at exchange of contracts. In Scotland, it becomes binding when missives are concluded. The final stage is completion or settlement, when ownership transfers and the buyer receives the keys. ![Person carry a box and plant](https://www.your-move.co.uk/uploads/blog_post/12_1534_s.jpg?v=56381) **Summary:** After an offer is accepted, the mortgage, survey, searches and legal work begin. In England, the transaction becomes legally binding at exchange of contracts. In Scotland, it becomes binding when missives are concluded. The final stage is completion or settlement, when ownership transfers and the buyer receives the keys. Whether you have had an offer accepted on a home or accepted an offer from a buyer, reaching this stage is an exciting milestone. However, several legal and financial steps must still take place before the keys change hands. Your local Your Move team will help keep you informed, liaising with the buyer, seller, and their legal representatives as your move progresses. You can also follow updates through your **[MyMove](/page/1274)** account. Here is what buyers and sellers can expect next. ## The sale is confirmed Your Move will confirm the agreed offer and the position of both parties. In England, a memorandum of sale is issued to the buyer, seller, and their **[conveyancers](/page/2291)**. The property will usually be marked as sold subject to contract. - **If you are buying:** appoint a **[conveyancer](/page/2291)**, complete your **[mortgage](/page/2024)** application and provide proof of your deposit and source of funds. - **If you are selling:** appoint a **[conveyancer](/page/2291)** and complete the forms providing information about your property. At this point, the transaction is not normally legally binding. ## The legal and financial work begins The seller’s **[conveyancer](/page/2294)** prepares the contract documents and provides information about the property, its ownership, boundaries, and any fixtures and fittings included in the sale. The buyer’s conveyancer reviews the documents, arranges property searches, and raises any necessary enquiries. The buyer’s lender will usually arrange a mortgage valuation. Buyers may also want an independent survey, as the lender’s valuation is not a detailed assessment of the property’s condition. If the survey or legal work identifies an issue, the buyer and seller may need to discuss it before proceeding. Your Move will continue to monitor progress and help keep both sides updated, particularly if the transaction forms part of a property chain. ## Exchange and completion in England Once the buyer has their mortgage offer and the **[conveyancers](/page/2291)** are satisfied with the searches, enquiries and contract, the buyer and seller can agree a completion date. Both parties sign their contracts before their conveyancers formally exchange them. Exchange makes the transaction legally binding. Between exchange and completion: - The buyer provides the remaining funds and prepares for the move. - The seller packs, takes meter readings, and prepares to leave by the agreed time. - Both conveyancers carry out their final checks. On completion day, the buyer’s **[conveyancer](/page/2293)** transfers the purchase money to the seller’s **[conveyancer](/page/2294)**. Once the funds arrive, Your Move can release the keys to the buyer. If you are buying in England, you may also need to pay **[Stamp Duty Land Tax](/page/224)**. Your conveyancer will calculate any amount due, submit the return and arrange payment on your behalf. The seller’s conveyancer will repay any outstanding mortgage and agreed costs before transferring the remaining proceeds to the seller. ## What happens in Scotland? The Scottish process uses different terminology and legal stages. Offers are normally submitted in writing by the buyer’s solicitor. If the seller wants to proceed, their **[solicitor](/page/2291)** may issue a qualified acceptance setting out any conditions that still need to be agreed. The solicitors then exchange formal letters known as missives. - **If you are buying:** your **[solicitor](/page/2293)** checks the title, searches and **[Home Report](/page/138)**, confirms your **[mortgage](/page/2024),** and negotiates the terms of the purchase. - **If you are selling:** your [**solicitor** ](/page/2294)responds to the offer, supplies the legal documents, and agrees to the terms of the sale. Once all the terms have been agreed upon, the missives are concluded. This is the point at which the buyer and seller become legally bound. The agreed moving day is known as the date of entry. On that date, settlement takes place: the purchase funds are transferred, ownership passes to the buyer, and Your Move can arrange the release of the keys. Buyers in Scotland may also need to pay **[Land and Buildings Transaction Tax](/page/1802)**. Their solicitor will confirm whether this applies. ## Keeping your move on track Returning documents promptly, responding to enquiries and keeping your mortgage arrangements up to date can help prevent unnecessary delays. Whether you are buying or selling in England or Scotland, your local Your Move team will help you understand what is happening and keep you informed from offer accepted to moving day. **[Read our selling guide](/page/132)** [Read our buying guide](/page/126) --- ## Faqs ### Is accepting an offer legally binding? Not immediately. In England, the transaction normally becomes binding at exchange of contracts. In Scotland, it becomes binding when missives are concluded. ### When will the buyer receive the keys? The keys can be released once completion or settlement has been confirmed and the purchase funds have arrived. --- **YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.** Your initial mortgage appointment is without obligation. Embrace Financial Services normally charge a fee for their services; however, it is payable only on the submission of your mortgage application. The fee will depend on your circumstances but the standard fee is £599. Complex cases usually attract a higher fee. Embrace Financial Services will discuss and agree the fee with you prior to submitting any mortgage application. Your Move is an introducer to Embrace Financial Services Ltd. Embrace Financial Services Ltd is an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd. First Complete Ltd is authorised and regulated by the Financial Conduct Authority. You are under no obligation to use our recommended mortgage or protection adviser. Your decision will not affect the seller’s decision, the acceptance of your offer, or the progress of your purchase. ![Alex Bland](https://www.your-move.co.uk/uploads/blog_author/12_23_t.jpg?v=42102) [Alex Bland](/blog/authors/alex-bland) Your Move Emarketing Manager