If you are thinking of selling your home, the steps that are followed are set out below:
Step 1:
Once we have received your instructions we will send to you:
- Our Client Care letter confirming our Terms and Conditions of business.
- A Personal Sale Questionnaire
- A Property Information Form
- A Fixtures and Fittings Form
- A Leasehold Property Information Form (if the property is leasehold)
You must sign a copy of the Terms and Conditions of Business and provide evidence of your Identity. You must complete the forms very carefully and provide accurate information as the Buyer is able to rely on these forms and can take action against you if the answers given are incorrect. The completed documentation and any title deeds, planning documents and guarantees should be returned to us as soon as possible.
Step 2:
We will obtain a copy of the title registers from the Land Registry to confirm your ownership of the property and will also obtain copies of any additional documents setting out any conditions, covenants or rights that affect the property. If the property is not registered with the Land Registry, we will take additional steps to obtain the correct information and will contact you if further information is required. If you have a mortgage, once you have supplied your mortgage account number, we will also request an initial redemption figure (amount to repay). You must continue to pay your mortgage until completion.
Step 3:
Once we have all of the documents referred to above, we will send the contract pack to the Buyers Solicitors. This will consist of:
- The completed Property Form(s) and Fixtures and Fittings Form.
- A copy of the Title Documents.
- The draft contract, for approval.
Step 4:
The buyers Solicitor will:
- Submit their searches.
- Raise enquiries.
- Provide a Transfer for approval.
We will refer any enquiries raised to you, but we will have to wait until the buyers are ready to proceed to an exchange of contracts and this may depend on the Buyers receiving a satisfactory mortgage offer.
Step 5:
Once we know that the buyer is ready, or almost ready, to exchange contracts we will ask you to come in to discuss the documentation, a completion date and to sign the Contract and Transfer.
Step 6: EXCHANGE
If you and your Buyer (and any other parties in the chain) are happy with everything then we are ready to exchange contracts. Exchange of contracts takes place over the telephone and can take some time to complete, depending on how many people are in the chain and the availability of the other parties.
Upon exchange of contracts, the completion date is written in the contract, a deposit is paid by the Buyer and the contract is binding. You must sell the property and the buyer must purchase it. You can now confirm arrangements and dates with your removal company.
Step 7:
We shall contact your mortgage lender (if you have one) to obtain a final redemption figure calculated to the completion date. We shall also confirm any estate agent fees and will prepare a completion statement, showing the balance that is due to you upon completion.
Step 8: COMPLETION
This is the day that you actually move house. We will receive the sale proceeds from your buyer’s solicitor and will use money to repay your mortgage lender. We will also pay the Estate Agents and our fees and disbursements. Any remaining money will be sent to you, unless it is being used to fund an onward purchase.
Ideally, you should aim to move out by lunchtime and when you leave the property, you should:
- Deposit the keys with your estate agents, unless other arrangements have been made.
- Take your final meter readings for electricity, water and gas.
Once we have received your sale funds we will instruct the estate agents to release the keys and the buyers will move in.
Our friendly and knowledgeable team are here to assist and will help guide you throughout the process.