What Is A Memorandum of Sale?

Navigating the UK property market can feel overwhelming, especially if you’re not familiar with all the paperwork involved. One document that often causes confusion is the Memorandum of Sale. But exactly what is a Memorandum of Sale, and why is it so important?In this comprehensive guide, we break down the Memorandum of Sale meaning, what it includes, how it works, and what happens next, so you can move through your property sale with confidence and clarity.

What is a Memorandum of Sale in property transactions?

The Memorandum of Sale is a written document that confirms the terms agreed upon between a buyer and seller after an offer on a property is accepted. Although it’s sometimes mistakenly called a Sale of Memorandum, the correct term is Memorandum of Sale, and it plays a crucial role in initiating the legal process.

The document outlines the key details of the agreement, including:

• The agreed sale price
• Contact details for buyer, seller, and solicitors
• Any special terms or conditions of the sale

Although not legally binding, it is required to begin the formal legal process of transferring property ownership, known as conveyancing.

Memorandum of Sale meaning: why it matters in the UK property market

So, what is the Memorandum of Sale meaning in practical terms?

Think of it as a written confirmation of the verbal agreement between the two parties. Once it’s issued, it allows solicitors and estate agents to:

• Begin legal preparations
• Book property surveys
• Conduct searches
• Draft contracts

It serves as the starting point for the legal aspects of the house-selling process, despite the fact that neither party is legally bound by it.

What information is included in a Memorandum of Sale?

A Memorandum of Sale usually contains the following details:

• Full names and contact info for both buyer and seller
• The agreed sale price
• The full property address and brief description
• The names and contact details of both parties’ solicitors
• Any contingencies (e.g., mortgage approval, survey results)
• The proposed completion date
• The issuing estate agent’s contact details
• The date the Memorandum of Sale is issued

When Is a Memorandum of Sale issued in a property sale?

One of the most common questions sellers ask is: when is a Memorandum of Sale issued?

The answer: it’s issued shortly after the seller accepts an offer. The estate agent prepares the document and distributes it to both solicitors, the buyer, and the seller. It helps kick off the conveyancing process and shows that both parties are ready to proceed.

How long after Memorandum of Sale to completion?

If you’re wondering how long after Memorandum of Sale to completion, the answer depends on several factors. In a straightforward sale, the process takes 6 to 12 weeks from the date of issue to completion.

Factors that can affect the timeline include:

• Chain-free vs. chain-linked transactions
• Mortgage approvals
• Survey results
• Solicitor efficiency

For a faster solution, cash house buyers like Sell House Fast can often reduce this time to 7–14 days.

Is the Memorandum of Sale legally binding?

No – the Memorandum of Sale is not legally binding. It confirms that the buyer and seller have agreed to terms, but either party can withdraw without legal consequence until contracts are exchanged.

That’s why many sellers prefer working with cash home buyers to avoid fall-throughs and delays.

Why sell with a cash house buyer?

Avoid the uncertainty of open-market buyers. At Sell House Fast, we offer:

• A guaranteed cash offer
• Quick completion — often in a couple of weeks
• A chain-free solution
• No estate agent fees

We buy any property in any condition — even homes with tenants.

How Sell House Fast works

Here’s how our simple process works:

1. Tell us about your home – Fill out our quick online form.
2. Get a free cash offer – Our experts provide a fair offer with no obligation.
3. Complete quickly – Accept the offer and we handle everything else.

No stress. No delays. Just a fast, fair, secure sale.

Memorandum of Sale FAQs

Ready to sell without the hassle?

Skip the waiting, the uncertainty, and the paperwork delays. With Sell House Fast, you can:

• Get a free cash offer today
• Sell your house in days, not months
• Avoid broken chains and buyer delays

Contact us or complete our short form to get started. Sell your house quickly, no matter the reason or condition.