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We know that selling a property can be a stressful time and how important it is for the process to be dealt with efficiently. It is our job to absorb the stress for you, so that you can focus on planning your next move. There are a few stages of the conveyancing process, here’s our step-by-step guide:

Instruction:

The process begins when you instruct us to handle the legal aspects of the property transaction. At this stage, we will provide you with a quote and then you will need to provide us with details of the property and all parties involved. At this point, we will contact the estate agents and obtain the memorandum of sale.

Pre-contract stage:

When you are selling, we will obtain the title deeds and you will complete some forms such as the Property Information Form and Fittings and Contents Form, providing details about the property. You will also provide your ID at this stage.

Note: if you are holding the original deeds, you can drop them at our office, but most deeds can now be found electronically at the HM Land Registry.

Drafting the contract:

We will prepare a draft contract and send it to the buyer’s solicitor. The draft contract will include the title register, title plan, contract, property information forms and any other supporting documentation you provide to us.

Enquiries:

The buyer’s solicitor reviews the contract and raises any necessary enquiries about the property. We will then go through these enquiries and respond to the same. We may need your help in answering a few of these questions or the help of a third party such as a management company or agent. This is the bulkiest part of the process and there may be some back and forth over a few weeks. We often find at this stage that clients may become frustrated if there are a lot of questions, but it is important as a seller to provide the buyer with as much information as possible.

Signing the Contract and Transfer:

Once the above enquiries have been dealt with and the contract and TR1 have been approved, these will then be sent to you for signature.

Note: These can be signed electronically or if you wish to do so, you can come into the office at this point.

Exchange and Completion:

Once we are holding the signed contract and transfer, we can liaise with the buyer’s solicitors to agree upon a date for exchange and completion. Exchange of contracts is when both solicitors agree upon a date for completion and enter a legally binding contract. This is dated and timed by both sides. Completion is simply when we receive completion monies from the buyer’s solicitors.

Upon completion, we will receive funds from the buyer’s solicitors and distribute these to third parties such as mortgage providers, estate agents and finally to yourself. You will have already received a completion statement which will set out a full financial breakdown of the transaction for you.

If you have a property to sell, do not hesitate to get in touch with our helpful team here for a free no obligation quote.