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guiding vendors through the selling process
what happens after we accept an offer?
sale agreed
After an acceptable offer has been agreed, we draft sales letters introducing each party's solicitors.
legal process
Having taken our earlier recommendation, your solicitor will hopefully be in a position to send out a full set of papers including a copy of the title deeds, service charge information, current buildings insurance policy, any guarantees or warranties, any planning or building regulation certificates and your completed vendor/seller questionnaire forms will help your solicitor to answer questions from the purchaser's solicitor.
In the common situation of a purchaser requiring a mortgage, a surveyor will be instructed to carry out a valuation; simultaneously their solicitor will obtain Local Authority and Land Registry searches which detail property, planning and other material issues.
exchange of contracts
Once the purchaser's solicitor has completed these to his satisfaction, the purchaser has lodged his agreed deposit monies (usually 10% of sale price), exchange and completion dates have been agreed and the contract has been signed by both parties, exchange can take place. Once exchange takes place, it is legally binding.
The next step is to inform your utility companies of the pending change in ownership.
completion of contracts
Completion date usually takes place up to four weeks after exchange. Shortly before or on completion the balance of the money is transferred to your solicitor and once the property is vacated, your solicitor will confirm completion.
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