Offer accepted, now what?

Once the seller has accepted your offer, ask them to take it off the market. They don’t have to agree to this, but doing so will shut out other potential buyers.

Now you need to move fast – the seller will want to see progress so try to avoid any unnecessary delays in getting the surveys and other legal work done. Complete the lender’s application form and send them the documents they require – this will include proof of your ID, evidence of your earnings, proof of your address over the last few months and your bank statements, so have these ready.

The lender will then arrange for a valuation to be carried out on the property. This allows them to work out how fair the amount you’ve asked to borrow is compared to what they deem the property to be worth.

If you’re lucky enough to not need a mortgage then you don’t have to get a survey done, though buying a property without one is not advisable.

If you’re buying an older property, one that needs repairs or just for your own peace of mind, you should consider getting a more comprehensive survey carried out than the basic lender’s valuation.