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Authorised and Regulated by the Solicitors Regulation Authority, No.: 265043

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This is a brief summary of what happens when you sell your home.  Each

transaction is different and if you have any questions at any time, please

call us to discuss your sale.

 

We need to obtain your Title Deeds

Title deeds used to be held by Mortgage Companies and we would simply

ask for these once a buyer was found.  Most lenders no longer hold deeds

and they are simply sent to the home owner after completion.  We will therefore ask you to let us have any documents about your house that you hold.

 

Complete Property Information Form and Contents Schedule

You will be sent a property information form to fill in giving as much information about your house as possible.  It is important that you fill this in carefully as your buyers will rely on the information given.

 

Drafting the Contract

Once we have your completed forms and title deeds, we will prepare a draft Contract. This will be sent to the buyer’s solicitor along with the other information you have supplied and copies of your ‘Title’ which comes from the Land Registry.

 

Receive additional enquiries from buyer’s solicitor

The buyer’s solicitor may require some additional information from you. It may be that answers you completed on the property information form require more detail or that the results of their searches have prompted additional questions. At this stage, we may need to obtain the additional information from outside sources, such as the local authority or insurance company.

 

Approve draft contract

When the buyer’s solicitor is happy with all the information they will send back the draft Contract approved, ready for you to sign.

 

Make an appointment to sign contract

We will arrange for you to sign the contract as soon as possible. If there is a dependant purchase we will make sure that the two transactions are tied in.

 

Propose Completion Date

Completion is the point at which the buyer pays for the property and it changes hands. The date needs to be agreed before exchange of contracts can take place.

 

Ready to Exchange

When you have signed your contract and (if relevant) your proposed purchase is ready, we will inform the buyer’s solicitor that you are ready to exchange contracts.

 

Contracts Exchanged

When both you and your buyers are ready to commit to the transaction, the contract that you have signed and the contract that your buyers have signed are literally ‘exchanged’.   Once contracts have been exchanged, you and the buyers are legally committed to buy and sell the property. Failure to do so at this stage will result in the party at fault being in breach of contract.

 

Completion Date

The agreed completion date is the date upon which you must give vacant possession and the buyer can take up occupation, having first paid the balance of the purchase price. Failure to complete will result in the party at fault being in breach of contract and financial penalties may apply.   If you have a mortgage, it will be paid off from the sale proceeds before you receive the balance.

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SELLING PROPERTY

Property / Selling Property