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 6 – Sale agreed & progression
Stage overview
• Buyer completes Reservation process
• Sale details confirmed
• File prepared for completion
Whats 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
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
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
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
The sale may continue through the seller’s estate once the appropriate legal documentation has been provided.
Each situation is assessed individually. The transaction may be terminated or paused while legal matters are resolved.
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.
Regular updates help keep the transaction moving and allow us to identify and resolve any issues quickly.
Check the information carefully and notify us immediately if any details are incorrect.
The Notification of Sale confirms key details of the transaction and introduces the solicitors involved.
The full Sellers journey
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