A Conveyancing Solicitors Guide to Selling Your Home
A Conveyancing Solicitors Guide to Selling Your Home
Whether you are selling a leasehold or freehold property, a conveyance can be a stressful and expensive affair. It will most likely be the most expensive transaction you will complete in your personal capacity. This article contains information about what is exactly involved in selling a property.1. Once they have your instructions, your conveyancing solicitors will get hold of the deeds to your property. If there is a mortgage on the property your solicitor will need details of the redemption amount from your bank or building society.2. You will have to fill in a Fixtures and Fittings and Seller's Property Information Form, that provides relevant information about the property and the items that are to be incorporated into the sale.3. Your conveyancing solicitors will then draft the sale contract and send it through to the buyer's solicitors for their approval.4. The Seller's Property Information and Fixtures and Fittings forms are also given to the buyer and later will become part of the contract and therefore it is absolutely essential that these are completed accurately.5. Your solicitors then need to answer any queries that the buyer and their solicitors have about the property. Once this has been sorted out, the buyer's solicitors should return the agreed contract.6. Your solicitor will next approve the draft contract with you and arrange for you to sign the contract and then they will approve the mortgage redemption figure and agree a completion date.7. Exchange of contracts - they will ask for the money from your mortgage lender and draft the transfer deed, which will then be agreed with the seller's solicitors.8. The buyer must then do more searches before the completion date. They will also forward your solicitor a draft transfer document for them to check and agree. Once approved this will also need to be signed by you. You should now be ready to complete your sale.9. Keys to the property must be available at the time of completion. Make sure all utility meters are read before the premises are vacated.10. At completion your solicitor will receive the outstanding funds from the buyer's solicitors and send the signed transfer and deeds to them and then pay off any mortgage on your property.Remember that if you are purchasing a property at the same time as selling then your solicitor will normally synchronise the transactions.When coming to sell your house or flat, for a stress free sale make sure you choose a local conveyancing specialist.