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Conveyancing: Sale |
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Conveyancing when selling a propertyWhen selling a property, a Conveyancer will need to be appointed to complete the Conveyancing process for the sale. Step 1Once the Sale has been agreed, the Title Deeds and Land Registry copies will be requested. The initial step involves you completing a ‘Property Information’ Form as well as a ‘Fixtures, Fittings and Contents’ Form. There maybe another form to complete should the property be Leasehold. Any other documents you posses relating to your home will also be requested, such as planning consents for a conservatory or extension. Once the above paperwork has been collated, the draft contact will be prepared by your Conveyancer and sent to the buyer’s solicitor. The necessary searches and investigations will then be conducted by the Buyer’s team. Any questions or queries which are raised must be answered by your Conveyancer and yourself, during this period. This process can take up to four weeks, and once completed the contract can be signed. Step 2The next step in the process involves the exchange of contracts. After everything has been agreed and a final completion date is set, the contract is signed and then becomes legally binding. The Buyer’s solicitor will send the Seller’s team a deposit. Once the deposit has been received, the transfer deed will be approved by your Conveyancer and signed by you. At this stage, your Conveyancer will apply for the final mortgage payment, and the accounts will be prepared. Step 3At this stage, the sale is nearing completion, and once the final amount of the sale price is received, the title deeds for the property will be passed to the Buyer’s solicitor. Finally, any remaining amount on the mortgage will be paid off and the legal fees collected by your Conveyancer. The remaining amount from the sale of the property will then be forwarded to you, the seller. |
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