What is a Memorandum of Sale?

The Memorandum of Sale (MOS) is the document that "launches" the whole sale process. It says who you are as the seller, who we are as the buyer, the property that's changing hands, and who each of our solicitors are. Everyone involved gets a copy, and then begins work on the sale.

Answered by
Matthew Cooper
August 5, 2020

Detailed Answer:

What is it?

The Memorandum of Sale (MOS) says who you are as the seller, who we are as the buyer, the property that's changing hands, and who each of our solicitors are.

It also outlines the completion date we're working towards.

Everyone involved gets sent a copy, and at that point the sale is officially "agreed" - meaning solicitors will start work.

What does a Memorandum of Sale look like?

It contains all the information listed above neatly laid out on our headed paper. This is so everyone knows who's who, and the solicitors know how to contact each other. (We'll be adding a copy here soon so you can see an example).

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Related FAQs

How long will it take after I accept your offer?

Short answer:

It usually takes 14-21 days between when you accept our offer, and completion taking place. (Much less than the 2-3 months it usually takes)

If you'd like more time (or if you need your sale faster than 14-21 days) then speak with our team. Our job is to complete on a date to suit you.

Many customers want longer in between to get their other plans in place - this is absolutely fine. And some customers want a faster sale. Speak with us if you do need a very fast sale - we can probably speed up our usual process if you really need.

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After I accept your offer will I deal with one person, or a call centre?

Short answer:

You'll have a single point of contact. It's their job to oversee the sale and make sure it happens in your timeframes. They'll keep you updated throughout, and you can call or email them any time.

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Do I need a solicitor?

Short answer:

Yes, you'll have a solicitor who acts for you. This won’t cost you anything though, as we cover your legal fees.

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