How does buying a house work, from offer to completion?

The sequence from accepted offer to completion, who does what at each stage, and the points where a chain most often stalls.

Difficulty: intermediate
Time: 1 hr 30 min
Read: 3 min
Safety: caution

Short answer

After an offer is accepted you instruct a conveyancer, apply for the mortgage, commission a survey, and wait for searches and enquiries. Exchange of contracts is the point at which it becomes binding in England, Wales and Northern Ireland. Scotland works differently — an accepted offer is generally binding much earlier.

The process is genuinely slow and most of the waiting is not anybody being lazy: searches, mortgage underwriting and enquiries all take time and often run in sequence rather than in parallel. Knowing which stage you are at and what is blocking it is what lets you push usefully instead of chasing everyone weekly.

Safety

Conveyancing is a legal process and this is a general description of it, not legal advice. Procedures differ substantially in Scotland. Use a regulated conveyancer or solicitor, and always verify bank details by phone using a number you already hold — conveyancing payment fraud is common and losses are usually unrecoverable.

Buying a house: the sequence, and where it becomes binding

Step by step

Get a mortgage agreement in principle before offering.It tells you what you can borrow and it makes your offer credible. It is not a mortgage offer and is not binding on the lender.
Make the offer and agree what is included.Price, and specifically what fixtures and contents are included. Agreeing it in writing at the outset prevents an argument two months later.
Instruct a conveyancer immediately.Delay here delays everything else. Get quotes that show disbursements as well as the fee, and check they are on your lender's approved panel.
Complete the mortgage application.Full documentation — income, deposit source, identity. Underwriting is often the longest single item, and incomplete documents restart it.
Commission a survey.The lender's valuation is for the lender, not for you. Decide which level of survey you want and book it early, because surveyors have lead times.
Let the searches run.Local authority, environmental, drainage and water, plus any specific to the area such as mining. Turnaround varies by council and is outside anyone's control.
Deal with enquiries promptly.Your conveyancer raises questions on the title and the seller's forms. Each round adds time, so answering and pushing for answers matters.
Get the mortgage offer and read it.It contains conditions — retentions, works to be completed, insurance requirements. Conditions found late are a common cause of a delayed exchange.
Exchange contracts.This is the binding point in England, Wales and Northern Ireland. The deposit is paid and the completion date is fixed. Building insurance is normally your responsibility from exchange.
Complete and register.Funds transfer, keys are released, and your conveyancer deals with stamp duty or the equivalent land tax and with registration. Check the registration went through afterwards.

Tips

Verify your conveyancer's bank details by phone on a number you obtained independently, before sending any money. Email interception fraud in conveyancing is common and the money is rarely recovered.
Ask your conveyancer weekly what specific item is outstanding and who holds it. 'Any update' produces nothing; a named blocker produces movement.
Book the survey early. Surveyor availability is often the quiet reason a purchase slips by two weeks.

Common mistakes

Booking removals before exchange — Nothing is binding until exchange in England, Wales and Northern Ireland, and non-refundable bookings made earlier are a real and common loss.
Relying on the lender's valuation as a survey — It exists to protect the lender's security, not to tell you the condition of the building. It is not a survey and does not report defects to you.

If it doesn't work

Nothing has moved for weeks

Cause: Usually one outstanding search, enquiry or underwriting item — Fix: Ask specifically what is outstanding and with whom. Then chase that one party rather than everyone.

The survey found problems

Cause: Defects the price did not reflect — Fix: Get quotes for the work, then renegotiate the price or ask for the work to be done before exchange. Both are normal.

The chain has collapsed

Cause: Someone below or above withdrew — Fix: Nothing is binding before exchange. Ask the agent to remarket, and talk to your conveyancer about which work can be reused.

Questions people ask

How long does it take?

Commonly a few months from offer to completion, and longer in a chain. Most of the time is searches, underwriting and enquiries, which do not compress much.

Is Scotland different?

Substantially. Offers are made through solicitors, a Home Report is provided by the seller, and missives conclude to create a binding contract at a much earlier stage. Take Scotland-specific advice.

When am I committed?

In England, Wales and Northern Ireland, at exchange of contracts. Before that either side can withdraw, which is why costs incurred early are at risk.