Guide To Selling Your Property
A quick and handy step-by-step guide to explain the stages of your transaction.
Whilst we are here to guide you through selling your home we thought a handy step-by-step guide would help to explain the stages of your transaction so that you can keep track and fully understand the process.
Stage One | Sale Agreed
Upon receipt of your formal instructions, we will request your title deeds and obtain electronic title documents from the Land Registry. We will ask you to complete a Property Information form and a Fittings and Contents form (the will be an additional form if the property is leasehold). You will also be asked to complete an Overriding Interest Questionnaire.
You will also need to send, to us, any planning permissions, guarantees and additional papers that support the information provided in your completed forms which are not already held with your title deeds.
Once we have all of the title documents and information, a Contract will be drafted and sent to the buyer's solicitor together with the Contract papers. Having provided the buyer's solicitor with all the documents and information required, the buyer's solicitors will submit searches and raise enquiries on the legal title to the property. Enquiries on the legal title to the property will be dealt with by us but any general enquiries may be referred to you for you to answer.
Stage Two | Exchange of Contracts
When all the enquiries have been dealt with and the buyer's solicitor has their clients searches and mortgage offer (if required), all parties will be in a position to agree on a completion date. As soon as a completion date has been agreed we can look to exchange contracts. At this stage, the sale becomes legally binding.
A Transfer Deed will be sent to us from the buyer's solicitor. We will approve the document and forward to you for signature in readiness for completion.
If you have a mortgage, we will request a redemption statement from your lender and prepare a completion statement for your approval.
Stage Three | Completion
The buyer's solicitor will forward the purchase monies to us. When we receive the purchase funds, formal completion has taken place and you will be informed accordingly. We will then authorise the release of the keys with the estate agents (if this has been agreed).
To make things easier for you, we will arrange to redeem your mortgage, pay the estate agent commission (if required) and deduct our legal fee before sending you the sale proceeds. If you have a related purchase, the funds will automatically be transferred onto your purchase.