Offer accepted, what next?

Congratulations, your offer has been accepted!

You’ve just made an offer on a property and it’s been accepted - great news! Now it’s time to navigate the purchase process. Here’s what you need to know and what to do next.

Step 1: Instruct a conveyancing solicitor

Now that your offer has been accepted, it’s crucial to instruct a conveyancing solicitor as soon as possible. Early instruction allows for completion of preliminary work, positions you as a serious buyer, and helps protect you from risks like gazumping. When choosing a conveyancing firm, consider these key factors:

1. Transparent Pricing: Look for a solicitor who offers clear, upfront pricing. Beware of quotes that seem too good to be true, as they often come with hidden fees. At Juno, we provide full, all-inclusive quotes to avoid any surprises later on.

2. Quality of Service: Choose a provider who offers clear communication channels and regular updates on your case’s progress. This can significantly reduce stress during the process. Check client reviews and testimonials to gauge the quality of service. You can read our excellent Trustpilot reviews here.

3. Use of Technology: Opt for a solicitor that leverages modern technology to streamline the conveyancing process. At Juno, we’ve embraced digital solutions like online case management systems and e-signing capabilities to enhance efficiency and convenience.

4. Speed of Transaction: The time to exchange is a critical factor in conveyancing. Choose a solicitor known for efficient processes. At Juno, we complete transactions 50% faster than the average law firm, making us an ideal choice for those who want to move quickly.

To get started, simply reach out to your chosen firm and provide details of your purchase. You can do this with Juno here to get started. We’ll guide you through the next steps, including gathering necessary documents like proof of ID and bank statements.

Step 2: Secure your mortgage

With your offer accepted, it’s time to secure your mortgage. Here’s what you need to do:

1. Contact your mortgage broker or lender: Inform them about your accepted offer and start the process of converting your mortgage in principle into a full mortgage offer.

2. Prepare for a detailed financial assessment: Be ready to provide recent payslips, tax returns (if self-employed), bank statements, and proof of any additional income.

3. Understand the mortgage valuation process: Your lender will conduct a valuation of the property you’re buying, primarily for their benefit. This valuation is not the same as a full property survey and provides limited information about the property’s condition. Lenders may use in-person inspections or automated/desktop valuations, depending on their policies and the property’s characteristics.

4. Be patient but proactive: A full mortgage application can take several weeks. While waiting, stay ready to respond quickly to any queries or requests. Remember, having a mortgage in principle already puts you in a strong position, showing sellers you’re a serious buyer with financial backing. Act swiftly to convert this into a full offer and keep your purchase on track.

Step 3: Arrange a property survey

At Juno, we recommend that all homebuyers get a survey when they purchase a home. Surveys provide valuable information about the property’s condition, with trained surveyors assessing potential structural problems or necessary major repairs.

If you’re getting a mortgage, your lender will commission a ‘valuation survey’, but this is solely for their benefit. For peace of mind, it’s best to get your own survey done, as you can’t claim compensation from the lender’s surveyor if issues are discovered later.

Because we believe in the importance of independent surveys, we’ve partnered with Houzecheck to help you arrange yours. Houzecheck partners with chartered surveyors across the UK, offering competitive quotes quickly and transparently. As a Juno customer, you’ll receive an automatic 10% discount when using Houzecheck.

This offer is brought to you by Juno Global Services Limited. You’re under no obligation to order a survey through Houzecheck, and your purchase won’t be affected whatever you choose to do. If you do book a survey, Juno Global Services Limited will be paid a referral fee – how much will depend on the survey you book.

Step 4: Preparing your paperwork and coordinating all the relevant parties

Get your paperwork in order

• 🗂️

  ID: Gather identification documents (passport or driver’s licence)

• 🗂️

  Proof of Address: Collect proof of address (utility bills or council tax statements)

• 🗂️

  Bank Statements: Prepare recent bank statements

• 🗂️

  Proof of Funds: Organise proof of funds (savings account statements, investment portfolios, or bank confirmation letter)

• 🗂️

  Gifted Deposit: If using a gifted deposit, obtain a letter from the gift-giver confirming it's not a loan (your conveyancing solicitor can help with this)

• 🗂️

  Additional Documents: Compile additional documents like employment contracts, P60 forms, or self-employment accounts

• 🗂️

  Sale of Property: If you're selling a property to fund the purchase, ensure that the sale is underway and ideally with the same solicitor as the purchase

Inform your estate agent

• 🗣️

  Provide solicitor details: Provide your solicitor's details to the estate agent. This allows the agent to forward the memorandum of sale to both sides of solicitors, which initiates the conveyancing process.

• 🗣️

  Communicate expectations: Clearly communicate your timeline and requirements to your estate agent. This helps them liaise with other parties in the chain and work towards completion efficiently.

Notify your current landlord (if renting)

• 📣

  Review tenancy agreement: Check your tenancy agreement for the required notice period and any specific procedures for giving notice. Ensure you comply with these terms to avoid any potential disputes.

• 📣

  Provide written notice: Once you have a firm completion date, give formal written notice to your landlord. This should typically be done via email or letter, clearly stating your intended move-out date.

Research removal companies

• 🚚

  Consider options and get quotes: Start considering removal company options and getting initial quotes to understand your choices and potential costs.

• 🚚

  Plan early for wider choice: Early planning ensures a wider choice of removal companies and dates when it's time to finalise your moving arrangements.

• 🚚

  Wait for a completion date: Note that you will need to wait until a completion date is set before officially booking a removal company.

Sealing the Deal

Congratulations again on your accepted offer! You’re now well-equipped to navigate the next steps of your home-buying journey. Every step brings you closer to owning your new home.

The conveyancing process can be complex, but with the right support, it can be smooth and efficient. At Juno, we specialise in making this journey as straightforward as possible for you. Click here to get started.