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Guide to Selling a Property

Conveyancing is the legal process of transferring ownership of a property or land from one person to another. The start of the process takes place from around the time an offer is made on your property, which you then accept, to shortly after you complete on the sale and hand the keys to the new owner or estate agent.

The following is a brief overview of a standard sale transaction which gives an overview of the normal process and some of the terms you may come across.

Initial Stages:

  • After instruction, we will send you a Client Care Pack which sets out our terms of engagement, confirms the charges within our illustration, and has some paperwork for you to complete and return
  • The payment on account (to cover the cost of any searches / title plans) along with details of how to pay this will be included within the Client Care Pack. This figure is included within the total cost in the illustration, and is not an extra fee

Legal Work:

  • You will need to complete a number of questionnaires about the property and what you intend to include within the sale. These will be provided by us and may include:
    • A general questionnaire (TA6) which includes information on boundaries, disputes and complaints (like reported noisy neighbour complaints or boundary disputes), known proposed developments (like motorways or railways), building works, council tax, utilities, sewerage, contact details
    • If you do not own the freehold of the property you will give more information on either the leasehold (TA7) or the common hold (TA9)
    • Details of the fixtures and fittings included within the sale will need to be provided (TA10)
    • A form (TA13) which provides information including arrangements for handing over the keys, how and where you will complete, and ensuring that the house is free of all mortgages and liability claims
      • It is, of course essential that all these forms are filled out truthfully and accurately or you could jeopardise the sale, or end up in a position of being sued
    • A draft contract will be drawn up and sent to the purchaser’s solicitor for approval
    • The purchaser’s solicitor will raise any enquiries which may include:
      • Date of completion
      • Information regarding any fixtures and fittings included
      • Any payments agreed for additional fixtures and fittings
      • Any items highlighted by the purchaser’s survey report which may need attention before completion
    • We will request a redemption statement from any existing lender to establish how much will need to be paid off at exchange of contracts
    • Exchange of contracts will take place by both solicitors making sure the contracts are identical, and then immediately sending them to one another in the post. If there is a chain, then they will have to confirm that all parties are ready to move forwards.  Having exchanged contracts, you are legally bound to buy the property
    • Between exchange of contracts and completion, you will receive the purchaser’s deposit monies. You will own the property until the day of completion but should make sure that everything you have said will be in the property by way of fixtures and fittings are still there
    • On completion day you will:
      • Hand over your keys and any spares to the estate agent (if you are using one)
      • The final balance of money from the purchaser will be received by us
      • All legal documents proving ownership will be handed over by us to the purchaser
      • We will arrange to redeem any mortgage amount you still owe to your lender
    • After completion has taken place you will have to settle our fees and the estate agents

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