The Buying Process – Step by Step
A detailed walkthrough of each stage of buying a property
Typical Timeline: 12-16 Weeks
1-2
Weeks 1-2: Mortgage application and finding a solicitor
3-8
Weeks 3-8: Searches, surveys, and enquiries
9-11
Weeks 9-11: Final checks and mortgage offer
12
Week 12: Exchange contracts
13-16
Weeks 13-16: Prepare for completion
Stage 1: Preparation
Get Your Finances Ready
- Calculate how much you can borrow
- Save your deposit (minimum 5%, ideally 10-15%)
- Check and improve your credit score
- Gather documents: payslips, bank statements, ID
- Get a Mortgage Agreement in Principle
Stage 2: Property Search
Finding Properties
- Use property portals (Rightmove, Zoopla)
- Register with local estate agents
- Set up email alerts for new properties
- Drive around areas you like
Viewing Properties
When viewing, check:
- Overall condition and any obvious problems
- Room sizes and layout
- Natural light and aspect
- Storage space
- Parking availability
- Local area and neighbors
Making an Offer
- Decide your maximum price beforehand
- Make your offer through the estate agent
- Consider the property’s condition and time on market
- Be prepared to negotiate
- Get confirmation in writing when accepted
Stage 3: Offer Accepted to Exchange
Instruct Your Solicitor
Your solicitor will:
- Check the legal title
- Carry out searches
- Raise enquiries with the seller
- Review the contract
- Handle the money transfer
Property Survey
Choose between:
- Condition Report: Basic, cheapest option
- HomeBuyer Report: More detailed, most popular
- Building Survey: Comprehensive, for older properties
Stage 4: Exchange of Contracts
Before exchange:
- Buildings insurance must be in place
- Deposit (usually 10%) must be ready
- Mortgage offer must be valid
- All enquiries must be resolved
Stage 5: Completion
On completion day:
- Your solicitor receives mortgage funds
- Balance is transferred to seller’s solicitor
- Seller’s solicitor confirms receipt
- Estate agent releases keys
- You can move in!