The Property Selling Process Explained
You agree a price to sell your property either privately with a buyer or via an estate agent.
Call our Client Service Advisors to get an estimate of charges from a Solicitor. When you’ve chosen a Solicitor notify the Seller or estate agents of the Solicitor acting on your behalf and let them know you wish to go ahead. The estate agent will then send a Memorandum of Sale to the Solicitors involved. If you instruct us, at this point we will open you a file and proceed to the next stage.
We will send you a Client Care Pack. This will need signing and returning with all the relevant documentation / identification documents requested. Any delays here will have a knock-on effect with us commencing the legal procedure.
Once we have all the relevant information we will prepare a Contract. If the property is leasehold we will need to liaise with the freeholder and any management company involved about any requirements and fees they will charge – this can cause a delay.
We will send the Contract to the Buyer’s Solicitors. This will include the agreed terms of the sale, copies of the deeds, property information form and fixtures and fittings completed by you.
The buyer’s solicitors will consider the papers and take their clients instructions on any enquiries that need to be raised. They may order their searches at that stage.
The buyer’s solicitors will receive the buyer’s mortgage offer following the survey on your property. They will consider their search results and may raise further enquiries at that stage.
The buyer’s solicitors reports to the buyer and ask them to make an appointment to sign the contract papers and provide the deposit.
The buyer’s solicitors contact us to say that they are ready to proceed and suggest a completion date.
We will contact you to discuss the completion date and also arrange for you to sign the Contract.
Contracts will be exchanged fixing a completion date. We will request the deposit from the buyer’s Solicitor.
We will prepare your financial completion statement which will include our costs, estate agents fee and any mortgage redemption figure to be discharged.
On, or just prior to completion take your final meter readings and then leave your keys with estate agent. They will not release them until they are informed that legal completion has taken place and funds have arrived with us. You can arrange to hand over keys direct if you prefer but always wait to be informed that the funds have arrived with us.
We will arrange payment of your estate agents fee and redeem the mortgage on the property. Any funds due to you will be paid on the day either by cheque or bank transfer or if you have a related Purchase funds will be transferred to that file.
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