What happens next and why chain transparency matters
Now that your offer has been tied up, the estate agent has issued a memorandum of sale. This is an official document confirming the details of the transaction, and is the starting point for the legal process. It ensures the sale and purchase is handled correctly and can prevent delays later on.
At this stage, transparency is key. Here’s what you need to know.
What is a memorandum of sale?
A memorandum of sale is a document provided by the estate agent that includes:
✔ The agreed sale price
✔ Buyer and seller details
✔ The property address
✔ Conveyancer details for both parties
✔ Any conditions of the sale (e.g., fixtures included, timescales)
💡Ideally, the memorandum of sale will also include the full chain details, but hopefully everyone will be using Open Moove to make this bit simple!
It isn’t a legally binding contract, but it confirms the sale is progressing. Without it, your solicitor cannot begin legal work, so make sure the selling agent has issued promptly... 24 working hours is more than enough time!
Requesting full chain details in Open Moove
If there is a chain involved (i.e., other buyers or sellers linked to your transaction), you need to understand its complexity. Delays often happen when buyers aren’t aware of the full chain.
💡 Make sure that your estate agent has entered full chain details into the Open Moove platform!
This gives complete visibility over:
• How many transactions are involved.
• Whether anyone in the chain is waiting on a mortgage offer or searches.
• Potential weak links that could cause delays.
✔ Transparency – Buyers who understand the chain can prepare for delays.
✔ Easier communication – Open Moove keeps all parties updated in one place.
✔ Faster resolution – Issues in the chain can be flagged early and dealt with.
Who is responsible for what next?
Once the memorandum of sale is issued, responsibilities shift:
📌 Estate agent – Acts as a 'project manager' of sorts for buyers, sellers, and solicitors. Remember that their role in actual sales progression is now limited.
📌 Your conveyancer – Now takes the lead. They will:
✔ Conduct legal checks and property searches.
✔ Raise your enquiries.
✔ Liaise with the seller’s solicitor.
✔ Handle the exchange and completion process.
📌 You, the buyer – Your job is to:
✔ Provide any required documents quickly. Same day ideally!
✔ Stay in regular contact with your mooving team.
✔ Avoid unnecessary pressure - conveyancers need space to do their job properly.
💡 Fact: Over 30% of delays in property transactions are caused by slow responses from buyers and sellers, not conveyancers. Stay engaged and organised.
What Open Moove suggests next
• Request full chain details from your estate agent and ask for them to be entered into the Open Moove platform within 24 hours of offer acceptance.
• Ensure you receive the memorandum of sale quickly. Your solicitor cannot start any legal work without it.
• Understand that your conveyancer is now in control of sales progression, and allow them time and space to work.
• Download the Open Moove app to track your transaction and keep communication clear within your chat room.
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