Between the first offer and a settled agreement there is usually a short negotiation — and after it, a piece of paper that matters more than it looks: the memorandum of sale. This step is about conceding the right things, nailing down what is included, and converting a verbal 'yes' into an agreed written record that starts the legal process.
Negotiate with more than price
Price is one lever among several: completion-date flexibility, buying speed, included items and certainty all have value to specific sellers. A seller needing a school-year move may take £3,000 less from a buyer who can match their date. Find out (via the agent) what the seller actually wants — it is often cheaper to give than money.
Pin down what is included
Fixtures and fittings disputes are absurdly common. The seller will eventually complete a TA10 fixtures and fittings form listing exactly what stays; at agreement stage, get every promised item — appliances, curtains, sheds, light fittings, the garden bench that sold you the place — recorded in writing with the agent so the TA10 has something to be checked against.
The memorandum of sale
Once terms are agreed, the agent issues a memorandum of sale to both sides and both conveyancers: names, price, property, solicitors, agreed conditions (like off-market status). It is not legally binding — nothing is until exchange — but it is the document that formally starts conveyancing, and errors in it propagate. Check every detail the day it arrives.
Your action list
Practical tips
- Concede slowly and get something each time — a £2,000 rise in exchange for the appliances and a date that suits you is a good trade.
- Keep the agent updated weekly from here on; agents chase chains most energetically for buyers they like.
What can go wrong
- Verbal promises about what stays with the house have a short half-life — if it is not written down now, expect an empty hook where the promise was.
- The memorandum of sale does not secure the property; treating it as a finish line is how buyers relax into the fall-through statistics.
- PropertySquares provides education, not financial or legal advice. Verify current rules and obtain advice for your circumstances before acting.