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STAGE 1: YOU ACCEPT AN OFFER |
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| What you need to do |
Instruct your Solicitor |
| Give your Solicitor details of your mortgage lender and account number |
| Give your Solicitor any documentation you have relating to your property (ie copy planning permissions) |
| Complete the documentation sent to you by your Solicitor (Sellers' Property Information Form and Fixtures and Fittings List) | |
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- Your Solicitor will request your title deeds from your lender
- Your Solicitor will request a copy of the legal title from the Land Registry (if the property is registered)
- Your Solicitor will prepare the contract package and send this to the buyer's Solicitors.
- The Buyer’s Solicitor will apply for the searches, check the legal documentation and raise any necessary enquiries.
- Your Solicitor will reply to the enquiries and may ask you to assist with some replies.
- The survey will be carried out
- Your buyer's mortgage offer will be issued
- Your Solicitor will report to you and you will sign the contract documentation.
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| What you need to do |
Sign the sale contract. Agree a completion date with the buyer. | |
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| STAGE 2: EXCHANGE OF CONTRACTS |
- You and the buyer will be legally bound by the agreement, so neither of you may withdraw from the transaction. Your buyer will send a 10% deposit to your Solicitors.
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| What you need to do |
Book Removals
Sign the Transfer Deed | |
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- Your Solicitor will obtain a final repayment figure for your mortgage
- Your Solicitor will obtain your estate agent’s invoice.
- Your Solicitor will approve the Transfer Deed and arrange for you to sign this
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STAGE 3: COMPLETION |
- Your buyer's Solicitor will pay the purchase monies to your Solicitors. Once payment has been received the estate agents will release the keys.
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| What you need to do |
Move out !
Drop the keys at the estate agents |
| Cash Flow Tip |
Your Solicitor will pay off your mortgage, your estate agent’s fees and their professional fees and pay any surplus to you. | |
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