- Buyer has received and is happy with the survey report
- Buyer has received their formal mortgage offer and is happy with it
- The deposit amount has been agreed and the buyer has the money available
- Buyer has arranged property and all relevant insurance and they're ready to begin on completion
- The completion date has been agreed by both buyer and seller
- The terms of the contract have been checked and finalised by all involved (solicitors, buyers and sellers)
Then, you can exchange contracts and all is legally binding. A seller can hand over their keys to the buyer and both can begin their new chapters!