A Memorandum of Sale is the document that turns an accepted offer into something both legal teams can actually act on. It isn't legally binding, but without it, neither conveyancer can properly open their file, which is exactly why getting it issued quickly matters.
What actually is a Memorandum of Sale?
It's prepared by the estate agent and records the key details of the agreed transaction: the property address, the agreed purchase price, the names and contact details of both buyer and seller, and the details of both conveyancers. It isn't a legally binding document, that only happens at exchange of contracts, but it's what triggers the formal legal process on both sides.
Why does this document matter so much?
Without it, conveyancers can't formally open their files or begin substantive work. Issuing it promptly matters for keeping momentum in the early days after an offer, when speed genuinely compounds. It also gives everyone a shared, written record of what's been agreed, which reduces the risk of a misunderstanding surfacing later in the process.
What happens behind the scenes?
The estate agent sends the Memorandum of Sale by email to both conveyancers, usually within 24 to 72 hours of the offer being accepted. If either side hasn't yet confirmed who their conveyancer is, this step gets delayed, which is one of the clearer arguments for appointing a conveyancer before an offer is even agreed rather than scrambling to name one afterwards.
What should you actually do when you receive it?
Check the details carefully, price, property address, contact information, and flag anything incorrect to your agent straight away, since both conveyancers will open their files based on exactly what's written here. If you're a buyer, make sure your mortgage broker knows the sale is now formally agreed so they can move to a full application. If you're a seller, start gathering the documents your conveyancer will need: planning permissions, guarantees, and completion certificates for any work carried out on the property.
| Once it's issued | Why it matters |
|---|---|
| Check every detail is correct | Both conveyancers open their files based on this document |
| Confirm receipt with your conveyancer | Confirms their file is genuinely open, not just notionally |
| Tell your mortgage broker it's issued (buyers) | Triggers the move to a full mortgage application |
| Start gathering property documents (sellers) | Planning permissions and guarantees will be needed soon |
Frequently asked questions
- What is a Memorandum of Sale?
- A document recording the agreed price and everyone's contact details, prepared by the estate agent once an offer is accepted.
- Is a Memorandum of Sale legally binding?
- No. It's a record of what's agreed, not a contract. Either side can still withdraw at this stage.
- How soon after an offer is accepted is it issued?
- Usually within 24 to 72 hours, though it can be delayed if either side hasn't confirmed their conveyancer yet.
- What should I check when I receive it?
- That the price, property details and everyone's contact information are correct, since both legal files open based on it.
This guide is general information for home movers in England and Wales. Individual agents' processes and turnaround times may vary.