Moving home is an exciting and positive time and as property lawyers, we are here to make sure that your transaction proceeds smoothly and successfully. We therefore focus on 3 things; working promptly, being proactive and keeping in touch with you every step of the way.
Here are the key stages in the conveyancing process when you are selling your home…
Step 1 – We will ask you to fill out a Fittings and Contents Form and a Property Information Form. These forms will be sent to your Buyers Solicitors.
After we have received the completed forms from you, we will prepare the Contract which will be sent to your Buyers Solicitors.
Step 2– The Buyers Solicitors will set about checking the documents and undertaking any additional required searches.
Often a considerable number of questions are raised by Buyers Solicitors – these can relate to matters such as guarantees, planning permissions, building regulation approvals, queries over boundaries, etc. We will discuss with you any questions which we cannot answer from the documents and information held by us.
Step 3 – Once all the enquiries have been dealt with and the Buyers have a Mortgage Offer (if they are obtaining a Mortgage), a Completion Date is then agreed. This is the date of the actual move. We can then proceed with Exchange of Contracts. After Exchange of Contracts has taken place there will be a legally binding agreement and neither party can withdraw.
If there is a long “chain” every party in the chain must be ready to Exchange and agree on a Completion Date.
Step 4– During the period between Exchange of Contracts and Completion, we will obtain a final Redemption Statement from your mortgage lender. This will specify the amount required to fully discharge the Mortgage on the day of Completion. We will prepare a statement showing how much will be due to you and make arrangements for you to sign the Transfer Deed (this is the document which will transfer the property to your Buyers).
Step 5 – On the day of Completion we will receive the balance of the sale money by bank transfer. At that stage we will ring the Estate Agents to confirm that the keys can be released to your Buyers. Receipt of the money from your Buyers Solicitors will signify Completion of the transfer of the property.
Following completion we will settle your account with the Estate Agents, pay off your Mortgage, send the net proceeds of sale to you and forward the Title Deeds to your Buyers Solicitors.
How long will the transaction take?
Across the country many transactions take three months or more from start to finish, but we know that for most of our client’s time is of the essence and for that reason (subject to your instructions to the contrary) we look for all ways to reduce delays and always act quickly.
We aim to deal with everything immediately and are committed to ensuring that transactions proceed as promptly as possible.
A good firm of solicitors anticipates problems, knows the best way to deal with them and we do everything we can to encourage other people in the chain to get the end result as quickly and smoothly as possible.
With five offices across Wiltshire, our team of experienced property lawyers are here for you at each stage of the moving process.