Buying a property is one of the most important financial decisions many people make. Whether you are purchasing your first home or considering buying property in Leamington Spa or moving within Leamington Spa or Warwick, understanding how the buying process works can make the experience far smoother and less stressful.
In England and Wales, buying a property follows a structured legal process designed to protect both buyers and sellers. This guide explains what happens during a property purchase, from making an offer to moving day, with practical insight relevant to buyers in Warwickshire.
Making an Offer
Once you have found a property you would like to buy, the first step is to make an offer through the estate agent marketing the home. In areas such as Leamington Spa and Warwick, where demand can be strong, it is common for properties to receive multiple offers, particularly for well-located family homes or period properties.
Offers are not legally binding. The seller may accept your offer, reject it, or propose a counter-offer. Once agreed, the property is usually marked as Sold Subject to Contract (SSTC). All offers must be recorded by the agent and written confirmation sent to both buyer and seller. At this point, the legal process begins, but either party can still withdraw without penalty. Be mindful that the estate agent is required by law to present any future offers received to the seller up to and including the day of exchange so speed should be a priority.
Appointing a Solicitor or Conveyancer.
After your offer is accepted, you will need to formally instruct a solicitor or licensed conveyancer to handle the legal side of the purchase. This process is known as conveyancing. Your solicitor will:
- Review the draft contract
- Carry out legal searches
- Raise enquiries with the seller’s solicitor
- Handle the transfer of funds
If you are buying a leasehold property, such as an apartment in Leamington Spa or Warwick, your solicitor will also review the lease, service charges, and management arrangements which they will receive in the management pack from the sellers solicitor.
Arranging a Mortgage.
If you require a mortgage, a full mortgage application is usually submitted once your offer has been accepted. We advise this is done in the first five days. The lender will arrange a valuation to confirm that the property is suitable security for the loan.
This valuation is not a survey and will not identify defects. Given the mix of historic and modern housing stock across Leamington Spa and Warwick buyers can choose to arrange a more detailed independent survey. Once approved, the lender issues a formal mortgage offer.
Property Surveys
Surveys provide valuable insight into the condition of the property and help buyers make informed decisions.
Common survey types include:
- RICS Level 1 (Condition Report): Suitable for newer properties
- RICS Level 2 (HomeBuyer Report): Popular for conventional homes
- RICS Level 3 (Building Survey): Recommended for older or extended properties
Older homes in Warwick and period properties in Leamington Spa may benefit from a more detailed survey, particularly if alterations have been made.
Searches and Legal Enquiries.
Your solicitor will carry out a series of searches to identify any issues that could affect the property or your future ownership.
These typically include:
- Local authority searches (planning permissions and highways)
- Drainage and water searches
- Environmental and flood risk searches
Your solicitor will also raise enquiries with the seller covering matters such as boundaries, guarantees, disputes, and alterations. This stage often takes the longest and can involve multiple rounds of questions and responses.
Reviewing the Contract and Legal Report.
Once searches and enquiries are complete, your solicitor will provide a detailed report on the property. This will include:
- The contract of sale
- Title documents
- Lease information (if applicable)
- Mortgage conditions
You will review these documents carefully and confirm that you are happy to proceed. At this stage, you will also agree a proposed completion date with the seller.
Exchange of Contracts.
Exchange of contracts is the point at which the transaction becomes legally binding.
At exchange:
- Both parties sign contracts
- A completion date is fixed
- The buyer pays a deposit, typically 10%
Once contracts are exchanged, neither party can withdraw without significant financial consequences.
Between exchange and completion, your solicitor will prepare for the final transfer of ownership. This includes requesting mortgage funds, carrying out final searches, and preparing a completion statement showing all costs. You will need to arrange buildings insurance from exchange, as you become legally responsible for the property from that point, even though you have not yet moved in.
Completion Day.
Completion is the day ownership officially transfers to you.
On completion day:
- Funds are transferred between solicitors
- The seller vacates the property
- Keys are released by the estate agent
You can then move into your new home.
Following completion, your solicitor will:
- Pay any Stamp Duty Land Tax due
- Register you as the new owner with HM Land Registry
- Register the lender’s charge (if applicable)
Once registration is complete, the legal process is finished, although this can take several weeks.
Frequently Asked Questions.
How long does it take to buy a property? Most property purchases in England and Wales take 106 days from sale agreed to exchange of contracts, although this can vary depending on the length of the chain and legal complexity.
Is a survey necessary? Surveys are not compulsory but are strongly recommended. They can identify costly issues that may not be visible during viewings.
When do I become legally committed? You become legally committed at exchange of contracts, not when your offer is accepted.
What does “Sold Subject to Contract” mean? It means an offer has been accepted, but the sale is not legally binding until contracts are exchanged.
Do leasehold properties take longer to buy? They often do, as additional legal checks are required, particularly in apartment developments.
Final Thoughts
Buying a property involves several legal and financial stages, each designed to ensure the purchase is secure and fully understood. While the process can feel complex, knowing what happens at each step can help buyers approach their purchase with confidence.
Whether you are buying in Leamington Spa, Warwick, or the surrounding Warwickshire villages, careful preparation, professional advice, and patience are key to a successful property purchase.
If you are think of selling call us to book your free, no-obligation property valuation in Leamington Spa or Warwick today and receive expert, local insight to help you plan your next move with confidence, contact us on 01926 898080 or email [email protected].
Further Resources
Below are a collection of further reading resources that you may find useful along with a basic visual representation of the process.
- https://www.ettajames.co.uk/news/leamington-spa-warwick-market-forecast-2026/
- https://www.ettajames.co.uk/property-valuation/https://www.ettajames.co.uk/property-valuation/
