Selling a house
- Once you have accepted an offer for the purchase of your property, you need to exchange solicitors details with the buyer.
- Inform your solicitor that a purchase has been agreed and give them the buyer's solicitors details. Your estate agent will then contact the buyer's solicitor
- Your solicitor will send a draft contract to the buyer's solicitor. This contains details of prices, deposits, details of the two parties involved in the sale and information from the deeds of your property.
- Your solicitor will ask you to complete a fixtures and fittings form detailing anything in the property you are selling that is included in the price, and which items which you will be taking with you.
- The buyer's solicitor will now make pre-contract enquiries, including carrying out searches relating to the property and checking the title of the property.
Your solicitor will receive a standard set of enquiries from the buyer's solicitor requesting information on:
- Any disputes relating to the property
- Planning constraints on the property
- Any planning permission existing for the property
- Where the boundaries of the property are
- Identify any rights of way through the property
- Any restrictive covenants on the property, e.g. no multiple occupation
- The buyer's solicitor will check the details in the draft contract, and negotiate changes to it with your solicitor as necessary.
- The contract is negotiated and agreed. A completion date is agreed
- If you currently have a mortgage on the property, your solicitor will request a redemption figure from your lender.
- Contracts are exchanged.
- The seller's solicitor draws up a transfer document and sends it to your solicitor
- At this stage you need to ensure that all the practical matters related to moving house are in hand.
- On completion day you must have vacated the property you are selling. The balance of the purchase monies will be received from the buyer's solicitor
- If you had a mortgage on the property, it will now be redeemed.
- Your solicitor will send the title deeds for your property to the buyer's solicitor.