Selling Your Property

PROVIDE PROOF OF OWNERSHIP

We will need to prove to the Buyer and the Buyer's solicitors that you own the property and are able to sell. We obtain the relevant documents from the Land Registry as evidence of your ownership.  If you have a mortgage on your property the deeds may be held by your lender. We will need your mortgage account number to request the deeds.

If you have loans other than your mortgage secured on the property please let us know as these will also need to be paid off when the property is sold.

PROPERTY INFORMATION FORMS

We will give you a Sellers Property Information Form, Fittings and Contents Form, and Leasehold Information Form, if needed, to complete and be signed by all the owners. We then send the completed forms to the Buyer's solicitor with the draft Contract.

PREPARE YOUR CONTRACTS

We will prepare a draft Contract setting out the terms and conditions of your sale.  We will then send this to your Buyer's solicitor with copies of relevant deeds and additional documents which may be required such as leases, guarantees, or planning approvals. By providing a comprehensive pack of information at this stage we can help ensure the sale process proceeds according to plan.

ENQUIRIES

During the course of a sale, it is not unusual for there to be questions raised about the property from the buyers through their solicitors. We handle these enquiries on your behalf, referring to you for assistance where required and keeping you informed along the way.

BEFORE EXCHANGE OF CONTRACTS

When the Buyer and their solicitor have agreed the terms of the draft Contract we will ask you to sign the Contract in readiness for exchange. You may be asked to sign the Contract some weeks before the Buyer is ready to exchange or even before you have signed a Contract on any related purchase. Signing the Contract is just a preparatory step and does not commit you to selling the property. The transaction only becomes legally binding when both solicitors exchange their parts of the Contract.

When all parties know that exchange is imminent a moving date will be suggested that all parties in the chain need to agree.  You should not make any final commitments or arrangements (for example booking removals) until Contracts have been exchanged and you have been notified by us.

EXCHANGE OF CONTRACTS

Exchange can take place when you and the Buyer have agreed on all the terms of the Contract, a completion date has been agreed and all other parties in the chain are ready to proceed.  Exchange involves the Buyer paying a 10% deposit, which we hold on your behalf until completion.  However, if you are purchasing another property, the deposit may be used in connection with this.  Exchange usually takes place between solicitors by phone so you will not need to be present.

From this point both you and the Buyer are bound by the Contract and the completion date is fixed.  You are now safe to make arrangements to book removal vans, re-direct post, phone and other services.

BEFORE COMPLETION

After the exchange of Contracts we will receive a Transfer Deed prepared by the Buyer’s solicitor. This is the document that transfers ownership of the property to the people buying your house and it will need to be signed before completion can take place.  If you have a mortgage we will ask your lender for the amount needed to repay the loan on the day of completion. We will also request a final account from the estate agents and prepare our bill. If you are selling an apartment we will obtain details of any service charge payments from the Landlord or Management Company and make sure you only pay service charge up to the date of completion.

When all the figures are available we will prepare a completion statement for your information and check where you want the balance of sale proceeds to be paid.

COMPLETION

On the pre-arranged day of completion the Buyer’s solicitor will send the money required direct to our bank account.  As soon as we receive the funds the sale is completed and the property belongs to the Buyer, giving the Buyer the right to occupy the house. We will notify you once the sale has completed. All your belongings must be cleared by lunchtime on the day of completion and arrangements made to hand over the keys. The keys are usually handed over by the estate agents unless you have agreed with your Buyer to hand them over direct. If there is a chain involved the whole process may take longer and it could be late afternoon before all the money arrives and the keys are handed over.

It is important to note that the Buyer does not have the right to occupy the property until we have received the funds from the Buyer’s solicitor. The Buyer should not be allowed to move in unless there are exceptional circumstances, in which case you will need a written agreement to safeguard your position.  With your approval we then pay off any mortgages and loans secured against your property, pay the estate agents, deduct our fees and pay you the balance. We will forward the balance to you on the day of completion either by cheque, or for a small fee direct to your bank account.  The signed Transfer Deed and any title deeds to the property will then be sent to the Buyer’s solicitor to finalise everything.

At this stage it is a good idea to check that any direct debits or standing orders paid in respect of the property are cancelled and that you notify the Local Authority and utility companies of the sale.