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Conveyancing process for selling a house
Selling a home can be one of the most stressful times of your life. Properties to find (if you are also buying), viewings to be organised, chains to deal with, deals to be made, along with the practicalities of moving such as packing, removals, utilities, decorating… The list is endless.
The last thing you need is confusion or conflicting information about the legal process of selling your home. That is where we come in - we take all that bother away from you!
The following is a step by step guide as to what will happen to complete the conveyancing process. Don't worry; we will be doing most of the steps for you!
So, where do you start?
- Instruct us to act for you. You could contact us using one of the links below, or by clicking on the 'sale' button on the home page, you will be able to get a quote showing you exactly how much your legal fees plus disbursements will cost, and then submit your details to us via a simple online form.
- Once we have received from the bank the original Land Certificate, we will need to establish what will, and will not be sold with the property: fixtures, fittings, etc. Any other paperwork which you have which affects the building itself will also need to be sent to us: any guarantees for structural work, building extensions, planning permissions, and so on.
- After we have reviewed all of these documents, we will be able to prepare a draft contract, which will be sent to the purchaser's solicitor for consideration. With all of these details to hand, they will be able to instruct the various "searches" (local authority, Land Registry and so on) to be carried out. These could throw up queries, which we may need to consult with you over to be able to answer. Don't worry about there being queries: it is quite normal. Most of the time, they are merely points which need clarifying.
- Once all parties are happy with the results of the above searches and queries, the contracts can be signed and a completion date set. Exchange of Contracts will follow, and the sale becomes legally binding. Deposit monies will change hands, our accounts will be finalised, and any loans which you need to repay will have redemption figures calculated.
- On completion day, we will receive the rest of the money from the purchaser's figure for the purchase of your property. In return, we will supply them with your Land Certificate. Any outstanding mortgage will be paid off (along with any other loans which are art of the transaction) and the residual balance from the sale proceeds transferred to you.
More detailed information about the conveyancing process can be found on the advisory's web site. Gavin Brazg, the editor, provides impartial advice about choosing conveyancing solicitors.
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