What Is a Memorandum of Sale in Property?
Key Takeaways:
- A memorandum of sale confirms the agreed sale details after an offer is accepted.
- It is not legally binding, but it triggers the next stage of the legal process.
- Delays often happen when solicitor details, ID checks, or mortgage information are not ready.
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- What Is a Memorandum of Sale? (MoS)
- What Information Does a Memorandum of Sale Include?
- Who Issues the Memorandum of Sale?
- Is a Memorandum of Sale Legally Binding?
- How Long Does It Take to Issue a Memorandum of Sale?
- What Happens After a Memorandum of Sale Is Issued?
- What Can Delay the Memorandum of Sale Process?
- What’s the Difference Between a Notification of Sale and a Memorandum of Sale?
- Can You Pull Out After a Memorandum of Sale?
- Sell Your Property Fast Without the Hassle of Conveyancing
- Frequently Asked Questions
What Is a Memorandum of Sale? (MoS)
A memorandum of sale is a written summary of the agreed property sale issued once an offer has been accepted. It usually includes the sale price, property address, buyer and seller details, and both solicitors’ information. It is not a contract, but it helps start conveyancing and gives all parties a clear record of what has been agreed.
What does a Memorandum of Sale Template look like in the UK?
What Information Does a Memorandum of Sale Include?
A memorandum of sale outlines the key details of the property transaction, ensuring that all parties involved have a clear record of the agreement. While the exact format may vary, it typically includes the following information:
| Detail | Why It Matters |
|---|---|
| Property address & tenure | Confirms the property’s identity and ownership type (freehold/leasehold). |
| Agreed sale price | Sets the confirmed purchase amount. |
| Buyer & seller details | Ensures all parties are correctly identified. |
| Solicitor details | Speeds up communication between legal teams. |
| Land Registry title number | Links the property to official records. |
| Planned exchange/completion dates | Helps everyone align timelines. |
| Purchase method (cash/mortgage) | Determines how funds will be transferred. |
Having this information in one document helps streamline the conveyancing process, reducing the risk of misunderstandings or delays.
Who Issues the Memorandum of Sale?
In most UK property sales, the estate agent issues the memorandum of sale once an offer has been accepted. This is usually sent to the buyer, seller, and both solicitors within 24 to 72 hours.
In private sales or some auction transactions, the seller or auctioneer may issue the document instead.
Can a Homeowner or Seller Issue It Themselves?
Yes, in private sales or some auction transactions, the seller or auctioneer may issue the document instead.
Is a Memorandum of Sale Legally Binding?
A memorandum of sale is not legally binding. It serves as a non-binding "agreement in principle" that outlines agreed terms, price, buyer, and seller details, allowing solicitors to begin the conveyancing process. Either party can withdraw themselves without legal penalty until contracts are formally exchanged.
Related Read: How to choose the right conveyancer for your needs
How Long Does It Take to Issue a Memorandum of Sale?
A memorandum of sale is usually issued within 24 to 72 hours of an offer being accepted. However, it can take longer if important details are missing or one side is not ready.
Common causes of delay include:
- Solicitor not yet appointed
- Buyer still awaiting mortgage progress
- Missing ID or proof of funds
- Chain-related hold-ups
In fact, in ordinary (non-chain) cases, conveyancing generally completes in 8–12 weeks, though chains and delays often push it longer.
What Our Data Reveals About Memorandum of Sale Timelines
At Housebuyers4u, we’ve supported hundreds of homeowners through stalled sales, delayed memorandums, and slow conveyancing processes. Analysing over 210 transactions completed between 2025 and 2026, we found clear trends showing how early documentation and solicitor readiness can drastically impact completion times.
| Scenario | Average Time to Issue Memorandum of Sale | Average Time to Completion | Main Delay Factor |
|---|---|---|---|
| Fully prepared sale (both solicitors appointed, proof of funds ready) | 1.4 days | 6.5 weeks | None – smooth communication |
| Buyer waiting for mortgage approval | 4.2 days | 9.3 weeks | Lender processing times |
| Missing solicitor details or ID verification | 6.7 days | 11.4 weeks | Late document submission |
| Chain-involved sales | 5.9 days | 13.6 weeks | Dependence on third-party timings |
What Happens After a Memorandum of Sale Is Issued?
Once the memorandum of sale is sent out, the legal process begins. The buyer’s and seller’s solicitors start conveyancing, the buyer arranges any mortgage and survey requirements, and both sides work towards exchange and completion.
Typical next steps include:
- solicitor instruction and file opening
- contract pack issued
- searches and legal checks
- survey and mortgage progress
- exchange of contracts
- completion
How Long Does the Process Take?
The typical timeframe from memorandum of sale to completion is 8-12 weeks, but this can vary depending on factors like property chains, legal complexities, or mortgage delays. Keeping in regular contact with solicitors and estate agents can help speed up the process.
We recently worked with a homeowner who was struggling with conveyancing issues. They were frustrated that their estate agent wasn’t acting quickly, which was holding up the sale.
From the outset, the company was honest and went through the process without pressurising me. After having tried the market and having a couple of sales fall through, I decided to take the cash offer. They did as they said and kept me informed throughout and completed within 2 weeks. Would defo recommend!
At Housebuyers4u, we stepped in to handle the process, ensuring all necessary documents were in place and moving the sale forward without unnecessary delays.
What’s the Difference Between a Notification of Sale and a Memorandum of Sale?
A notification of sale and a memorandum of sale are essentially the same document, with the terms often used interchangeably by estate agents. Both serve as a formal record confirming that a property sale has been agreed upon, outlining key details such as the buyer and seller’s information, agreed price, and solicitor details.
Can You Pull Out After a Memorandum of Sale?
Yes. Because the memorandum of sale is not legally binding, either side can still pull out before contracts are exchanged.
If that happens, the main consequences are usually practical rather than legal, such as:
- Wasted survey or legal costs
- Delays to future plans
- Frustration for all parties involved
That’s stronger and less salesy.
At Housebuyers4u, we know that one of the biggest frustrations for sellers is a buyer pulling out after the memorandum of sale has been issued. This often happens because of mortgage issues, slow legal processes, or second thoughts.
Our advice: If you’re looking for certainty, selling to a cash buyer eliminates the risk of delays or fall-throughs, as there’s no chain and no reliance on mortgage approvals.
Sell Your Property Fast Without the Hassle of Conveyancing
Dealing with the conveyancing process can be slow and complicated. If you want to sell your house quickly without the hassle, Housebuyers4u can help. We buy properties for cash, allowing you to avoid legal delays, skip lengthy paperwork, and complete your sale in days.
Whether you're transferring ownership, selling due to inheritance, or simply need a fast house sale, our service gives you a guaranteed cash offer with no fees or hidden costs. Get in touch today to sell your property hassle-free!
