Buying a home in London follows a different sequence from a US purchase: an accepted offer binds nobody, the contract becomes binding only at exchange, and the London average from sale agreed to completion was 174 days in July 2026.
That figure, from Rightmove, compares with 154 days across Great Britain, and it shapes how an American buyer should plan. This guide walks through the process in order. The tax side (stamp duty, inheritance tax and how the US treats a UK home) is covered in our earlier article, Buying in London as an American: the tax points to know first, so it is only touched on here.
Before you view: budget, funds and a solicitor
Most London homes are marketed through estate agents acting for the seller, and agents are expected under National Trading Standards guidance to publish material information such as tenure, council tax band and, for leasehold flats, service charge and ground rent. There is no multiple listing service in the US sense, so buyers usually register with several agencies, and some use a buying agent who acts only for them.
It pays to instruct a solicitor or licensed conveyancer before you make an offer. Under the Money Laundering Regulations 2017, your lawyer and the estate agent must verify your identity and the source of your funds; for money held in US accounts this can take time, and having bank statements, sale documents or other evidence ready avoids delay once a seller has said yes. If you will borrow, a UK mortgage agreement in principle helps, although the range of lenders for US citizens is narrower than for UK residents.
Making an offer, and why it is not binding
Offers are made through the agent, usually by email, and are normally "subject to contract" and "subject to survey". When the seller accepts, the property is marked sold subject to contract, but either side can still walk away. That is how gazumping happens: a seller accepts a higher offer after agreeing yours, and nothing in English law prevents it until contracts are exchanged. Some buyers ask the seller to take the home off the market, or agree an exclusivity period, which reduces but does not remove the risk.
There is no earnest money deposit at the offer stage, and no escrow account in the American sense. Your money moves through your solicitor's client account.
Conveyancing: searches, surveys and the title
Once the offer is agreed, the seller's solicitor sends a draft contract and replies to standard enquiries. Your solicitor orders searches (local authority, drainage and water, environmental and others as needed) and checks the title. Most land in England and Wales is registered at HM Land Registry, so ownership is checked against the official register; title insurance plays a much smaller role than in many US states, although indemnity policies are sometimes used for specific defects.
A mortgage lender's valuation is not a survey. The Royal Institution of Chartered Surveyors sets three levels of home survey; for older London houses many buyers commission the most detailed, Level 3. If the survey reveals work, this is the moment to renegotiate.
Many London flats are leasehold. The length of the lease, the service charge history and the freeholder's obligations all affect value and mortgageability, and the rules are changing under the Leasehold and Freehold Reform Act 2024. We will cover leasehold, freehold and share of freehold in a separate guide.
Exchange and completion compared with a US closing
Exchange of contracts is the point of no return. Both solicitors exchange signed contracts, usually by telephone under Law Society formulae, and the buyer pays a deposit, customarily 10% of the price, unless a lower figure is agreed. From then on, a buyer who pulls out normally loses the deposit, and a seller who pulls out can be sued.
Completion is the day the balance is paid, the keys are released and ownership passes. It is agreed at exchange and is often a week to a few weeks later, though both can happen on the same day. A US closing tends to combine both steps; in England they are separate, which is why buyers should insure the property from exchange.
After completion your solicitor pays the stamp duty land tax due and registers you as owner at HM Land Registry.
Costs on top of the price
Budget for legal fees, searches, the survey, the Land Registry fee (on a scale set by HM Land Registry), any mortgage arrangement fees and stamp duty land tax. Non-UK residents pay a 2% surcharge on top of standard rates, and buyers who already own a home anywhere in the world usually pay a further 5% higher rate; part of the surcharge can be reclaimed if you spend enough days in the UK, as our tax article explains. Currency matters too: fixing the exchange rate for the exchange deposit and for completion, through a bank or a regulated currency provider, removes one variable from a long timetable.
Dolce Vita handles sales and lettings across the UK from Mayfair, and helps clients buy abroad through partner agencies. If you are planning a move to London and would like to understand values before you start viewing, or have a US home to sell or let, we can help. Request a valuation; we acknowledge the same working day and return a written valuation within 24 to 48 hours.
Hanane Dawson, Founder
Sources: Rightmove, time from sale agreed to completion, 31 July 2026; HM Land Registry, registration services fees (gov.uk); HMRC, Stamp Duty Land Tax rates for non-UK residents (gov.uk); Money Laundering Regulations 2017 and Leasehold and Freehold Reform Act 2024 (legislation.gov.uk); RICS Home Survey Standard; National Trading Standards material information guidance.