Conveyancing Guides:- Selling:
Selling a property can be a very stressful and time-intensive process, so Expert Conveyancing has designed its very own step by step process to explain your transaction in three simple stages. We have also included full definitions for some terms which you are able to access by clicking on any term that is underlined.
Step 1
Sale agreed
- Once you have instructed Expert Conveyancing, the first stage is getting one of our Property Lawyers to obtain your title deeds and Land Registry copies. After this you will then need to complete a 'Property Information Form' and a 'Fixtures, Fittings and Contents Form.' If it is a leasehold property there will be an additional form to complete.
- You will then need to give us any guarantees or other documents not held with your title deeds e.g. planning consents for alterations and extensions if applicable, damp and timber reports etc.
- After this the draft contract will be prepared and sent to the buyer's Solicitors. They will then undertake various searches as necessary (this process can take up to four weeks). Following this, Expert Conveyancing will attempt to answer any queries they may have - with your help. Once the queries have been answered you will then be asked to sign the contract.
Also, you will no doubt be aware of recent Government Legislation requiring all homes marketed for sale from 14th December 2007, In England and Wales, to provide Home Information Packs (HIPs) to home buyers. The HIP has been introduced to speed up the sale process by providing all the necessary information at the outset, enabling buyers to make an informed decision. Expert Conveyancing can provide a HIPs package for you at a competitive price, ensuring that you are fully prepared for your potential buyer.
Step 2
Exchange of contracts
- Once everything, including the completion date, has been agreed and the contract is signed we can proceed to the next stage of exchanging contracts. This is the point where the sale becomes legally binding. At this time the deposit will be sent to us by the buyer's Solicitors.
- The transfer deed will then be approved and you will be asked to sign it. We will also apply for any mortgage redemption figure here and prepare the final accounts.
Step 3
Completion
6. On the completion date we will receive the balance of the sale price, once this is received we will hand over the title deeds to the buyer's Solicitors.
7. As a final step we will redeem any mortgage out of the sale proceeds and collect our legal fees and disbursements. After this we will then forward any money that is leftover to you (unless you are using it for a related purchase).