A guide to navigating the purchase process
You’ve had your offer accepted. Now it’s about turning that offer into a completed purchase and new home!
This guide shows you what will happen at each stage, and who will be responsible for what.
Before the legal process can begin, you’ll need to complete Anti Money Laundering checks. Someone from Ostrich will be in touch with what’s required, including proof of identity, proof of address and evidence of funds.
Once these checks are complete, the property is removed from Ostrich and the purchase process begins.
Getting started
What you need to do
- Instruct a solicitor or licensed conveyancer to act for you
- Send your solicitor's contact details to Ostrich, so we can issue the Memorandum of Sale
- Send funds to your solicitor so they can order local authority searches
- If you’re buying with a mortgage, start the formal application process
What your solicitor does
- Orders local authority searches once funds are received
- Receives the draft contract and title documents from the seller’s solicitor
What the seller does
- Provides their solicitor with the information needed to draft the contract
- If the property is leasehold, the seller will send funds to their solicitor so they can request a management pack
Tip: Solicitor recommendations from friends or family are often a good place to start. We can also offer recommendations so let us know if that would be helpful.
During the purchase
What you need to do
- Review the draft contract with your solicitor
- If you want to get a property survey, instruct a surveyor to carry one out
- If you’re buying with a mortgage, share Ostrich’s details with your lender or broker to arrange access for the mortgage valuation
- Arrange building insurance if required by your lender, often from the point of exchange
What your solicitor does
- Reviews the draft contract, title documents and search results, including the lease and management information if the property is leasehold
- Raises enquiries with the seller’s solicitor
What the seller does
- Allow access for surveys, mortgage valuations or additional viewings
- Responds to enquiries raised by your solicitor via their own solicitor
- Provides documents or clarification about things like lease terms, boundary details or previous works
Tip: Your surveyor can advise you on the best survey type based on the property’s age, condition, and construction.
Getting ready to exchange
What you need to do
- Review the Report on Title provided by your solicitor
- Sign your copy of the contract and TR1
- Transfer your deposit funds to your solicitor in good time
- Be available on the day of exchange to give authority for your solicitor to do so
- Arrange removals ahead of your move
Tip: Make sure your bank allows enough time to process deposit transfers before exchange.
What your solicitor does
- Prepares and sends you the Report on Title
- Agrees the completion date with the seller’s solicitor
- Calls you to confirm you’re ready to go ahead and get authority from you to exchange
- If needed, requests mortgage funds from your lender
What the seller does
- Signs their copy of the contract and TR1
- Lets their solicitor know they ready and happy to exchange
Tip: Make sure your bank allows enough time to process deposit transfers before exchange.
On completion day
What you need to do
- Send the remaining balance to your solicitor before this completion date
- Be ready to collect keys from Ostrich once completion is confirmed
What your solicitor does
- Transfers the remaining funds to the seller’s solicitor
- Registers the property in your name with the Land Registry
- Submits the Stamp Duty Land Tax return and pays HMRC on your behalf
What the seller does
- Moves out of the property by the agreed time
- Leaves the property in the condition agreed in the contract
Tip: Don't forget, you'll need to set up utilities at your new home and inform relevant parties of your address change.
Still have questions?
You’re not expected to know this process inside out. That’s what we’re here for! If anything feels unclear, just ask. We’ll keep you moving.