Stage 1:You accept an offer
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.
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.
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
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.
What you need to do | Move out ! Drop the keys at the estate agents |
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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. |
