Stage 6: Sale agreed & progression
Once a buyer is found, the focus shifts to confirming the sale and ensuring both parties are committed before legal work begins.
Stage overview
Once a buyer is secured, the focus shifts to confirming the sale and ensuring both parties are committed before legal work begins. Key documents are completed and the sale formally agreed, providing certainty and allowing the transaction to progress towards completion.
In this stage you’ll:
Complete the reservation process
Confirm the details of your sale
Your Conveyancer is instructed
Prepare to move into the Conveyancing stage
What's happening
Your buyer is completing the steps needed to secure the property.
They must:
• Sign a Reservation Agreement (a legally binding agreement confirming commitment to the purchase)
• Complete ID checks
• Provide proof of funds
• Confirm solicitor details
Once complete:
• A Memorandum of Sale is issued (confirming agreed sale details to all parties)
• The sale is now picked up by our Completions Team
What to expect
Contact may reduce slightly while the buyer completes the Reservation process and associated checks.
• Introduction to your Completions Specialist
• Receipt of the Memorandum of Sale
How you can help
Preparing your side early helps the sale move smoothly into the legal stage.
• Confirm your solicitor quickly
• Begin instructing your solicitor
• Remain patient while buyer steps are completed
When to contact us
If something doesn’t feel right or updates stop, get in touch. Contact us:
• If you’ve had no update within 5 days
• If your solicitor details change
Sale Agreed & Progression FAQ's
Your Completion Specialist will be your main point of contact once the sale has progressed to this stage.
Your solicitor and iamsold have separate legal and compliance responsibilities, so some information may need to be provided more than once.
The Notification of Sale confirms the agreed transaction details and introduces the parties involved in the transaction.
Check the information carefully and notify us immediately if any details are incorrect.
Regular updates help keep the transaction moving and allow us to identify and resolve any issues quickly.
Unexpected events can occur after a sale has been agreed. If the buyer or seller dies, or there is another significant change in circumstances, the transaction will be reviewed and the appropriate next steps discussed with all parties involved.
If the seller dies, the sale may be able to continue through the seller’s estate once the appropriate legal documentation has been provided.
Depending on the circumstances, the transaction may continue, be delayed, or need to be reviewed while legal matters are resolved. Your Auction Specialist and Conveyancer will explain the available options and provide guidance based on the specific circumstances.
Ready for stage 7?
With the sale agreed and the reservation process complete, the transaction moves into Conveyancing. The legal work required to transfer ownership can now begin.
Your Conveyancer and Auction Specialist will work together to help progress the sale towards completion.
Next stage: Stage 7: Conveyancing & completion
Stage 2: Auction Pack preparation
This stage focuses on preparing the legal information buyers need before they can bid.
ViewStage 3: ID & AML checks
We’re legally required to verify your identity and confirm you have the legal right to sell the property.
ViewStage 4: Marketing & viewings
This stage is focused on building interest, arranging viewings, and preparing for the auction.
ViewStage 5: Bidding & auction outcomes
Where your property is now in a live auction and where registered buyers can place bids.
ViewStage 6: Sale Agreed & progression
Where the focus shifts to confirming the sale and ensuring both parties are committed before legal work begins.
ViewStage 7: Conveyancing & completion
This is the final stage, where legal ownership of the property is transferred to the buyer.
View