Sale Guide

You have contacted your Estate Agents and have marketed your property, stating what offers you are expecting to receive on the property. You have accepted an offer on your property and Instruct a Solicitor. Your Solicitor will then send you the relevant forms you need to complete for the Purchaser. You arrange to leave the keys with your Estate Agent to allow the Purchasers Surveyor access to the property. Your Solicitor will draft a Contract of Sale, taking into account any special conditions agreed with the Purchaser’s Solicitor on your behalf. Your Solicitor will reply to any enquiries raised by the Purchaser’s Solicitor. Your Solicitor will send the Contract to you for signature and return. You search for removal companies, getting various quotes. Your Solicitor check the Redemption Figure on your mortgage (if you have one to redeem) You return the signed contract to Your Solicitor. Your Solicitor will Exchange Contracts and confirm the Completion Date on your behalf with the Purchaser’s Solicitor. It is now that Your Solicitor will receive the deposit from the Purchaser.

Your Solicitor will contact your current Mortgage Lender and request final settlement figures (if applicable). You will arrange the handover of keys with your Estate Agents. You will book the Removal Company. Your Solicitor will send you the Transfer Deed for signature and return, who will then hold the Deed until Completion and all monies have been received. You will return the signed Transfer Deed to Your Solicitor. Your Solicitor will complete with the Purchaser’s Solicitor, receive the remainder of the Purchase Monies, pay off any mortgage or loans you have specified, take their fees and pay the Estate Agents; the remainder of the monies will be transferred to your Bank Account. You will then Move Out. Your Solicitor will send you a Completion Statement (financial summary of all transactions) and Final Invoice. Your Solicitor will reassign Life Assurance Policies where applicable. Your Solicitor will send the Deeds onto the Purchaser’s Solicitor. Home Information Packs (HIP) It is anticipated that from August 2007, Home Information Packs will become mandatory for the sale of property with 4 or more bedrooms as part of the Government’s efforts to reform the home buying and selling process. The seller must provide a pack which will consist of legal documents and a home condition report to potential buyers at the start of the marketing process. A straight-forward Freehold property will be at least 80 pages, particularly when the optional documents are added, whereas more complicated Leaseholds and unregistered properties could be more than 120 pages. The cost of a HIP is anticipated to be between £800 - £1000 from any agent.

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