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A Guide to Property Sales in the United Kingdom

Selling a property in the United Kingdom can be a smooth process when you understand what’s involved. However, many sellers underestimate the timelines, costs, and financial planning required — particularly when the sale proceeds are being transferred overseas.

This guide explains how property sales work in the UK, what to expect at each stage, common pitfalls to avoid, and how to plan ahead if you’ll be converting or transferring funds after completion.

Whether you’re a UK resident, an expat, or an overseas owner selling British property, this guide will help you move through the process with confidence.

guide to property sales in the united kingdom

How the UK Property Sale Process Works

The UK property sale process follows a clear legal structure, though timelines can vary.

In most cases, the process includes:

  1. Preparing the property for sale
  2. Accepting an offer
  3. Conveyancing and legal checks
  4. Exchange of contracts
  5. Completion and receipt of funds

Unlike some countries, offers in the UK are not legally binding until contracts are exchanged, which is an important point for sellers to understand.

Preparing Your Property for Sale

Before listing your property, it’s worth addressing issues that could delay or reduce the final sale price.

Key steps include:

  • Instructing a solicitor or conveyancer early
  • Ordering an Energy Performance Certificate (EPC)
  • Resolving any title issues or planning permissions
  • Considering light improvements that increase appeal

If you’re selling from abroad, appointing a solicitor who is experienced in handling remote or expat sales can save time.

Accepting an Offer: What Sellers Should Know

Once an offer is accepted:

  • The property is marked as “sold subject to contract”
  • The buyer begins surveys and mortgage arrangements
  • Legal searches and enquiries begin

At this stage, either party can still withdraw. Delays often arise if documentation is missing or if buyers renegotiate after surveys, so preparation matters.

Conveyancing and Legal Checks

Conveyancing is the legal transfer of ownership.

Your solicitor will:

  • Issue draft contracts
  • Respond to buyer enquiries
  • Coordinate with the buyer’s solicitor
  • Prepare for exchange

For leasehold properties, this stage can take longer due to additional documentation and management company involvement.

Exchange of Contracts

Exchange of contracts is the point where the sale becomes legally binding.

At exchange:

  • A completion date is agreed
  • The buyer pays a deposit (usually 10%)
  • Both parties are committed to the transaction

From this point, financial planning becomes more predictable — which is particularly important if you intend to move the funds internationally.

Completion: When the Sale Finalises

Completion is when:

  • The remaining funds are transferred
  • Keys are released
  • Ownership changes hands

The sale proceeds are usually received by your solicitor before being transferred to your bank account. Timing matters here if you are planning to convert or send funds abroad.

Costs Involved in Selling Property in the UK

Common costs include:

  • Estate agent fees
  • Solicitor or conveyancing fees
  • EPC costs
  • Capital Gains Tax (for certain sellers)

Overseas owners and expats may face additional tax reporting requirements, so professional advice is recommended.

Capital Gains Tax for Property Sellers

Capital Gains Tax (CGT) may apply if:

  • The property is not your main residence
  • You are a non-UK resident
  • The property was used as a rental

Rates and allowances depend on individual circumstances, and reporting deadlines are strict. It’s best to confirm your position early in the process.

Selling UK Property as an Expat or Overseas Owner

Many UK properties are owned by individuals living abroad.

Key considerations include:

  • Appointing UK-based legal representation
  • Verifying identity remotely
  • Managing completion from a different time zone
  • Planning the transfer of sale proceeds

This is where many sellers lose money unnecessarily due to poor exchange rates or rushed decisions.

What to Do With the Sale Proceeds

Once the sale completes, sellers often:

  • Transfer funds overseas
  • Convert pounds into another currency
  • Reinvest in property abroad
  • Distribute funds between accounts

Leaving currency planning until completion day can expose you to rate movements and higher costs.

Why Exchange Rate Planning Matters

For sellers transferring funds internationally:

  • A small rate movement can change the final amount significantly
  • Banks often apply wide margins on large transfers
  • Poor timing can reduce the value of the sale proceeds

Planning ahead allows you to:

  • Fix an exchange rate in advance
  • Transfer funds in stages
  • Protect a target budget

This is especially relevant for property sellers purchasing another home overseas.

Common Mistakes Property Sellers Make

  • Accepting the bank’s default exchange rate
  • Waiting until completion day to plan transfers
  • Ignoring currency volatility
  • Underestimating transfer fees on large sums

These mistakes are avoidable with the right preparation.

How Cambridge Currencies Supports Property Sellers

Cambridge Currencies works with property sellers who need to:

  • Convert large sums securely
  • Transfer funds internationally
  • Reduce exposure to rate movements
  • Avoid unnecessary bank charges

We regularly assist:

  • UK expats
  • Overseas owners
  • Property investors
  • Families relocating abroad

Our role is to help sellers protect the value of their sale proceeds.

Planning a Property Sale? Speak to a Currency Specialist

If you’re selling property in the UK and expect to move funds internationally, early planning can make a meaningful difference.

A short conversation can help you:

  • Understand timing options
  • Reduce transfer costs
  • Avoid last-minute pressure

Speak to a currency specialist or request a free quote before completion.