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Valuation of Property by Estate Agent |
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Instruct a conveyancing solicitor: |
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Preparation of legal documents |
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Obtain Title Deeds from Mortgage Company |
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The legal process of the sale can now begin |
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Complete information forms about the property. This includes "Fixtures, Fittings and Contents", which will inform the buyer exactly what you are selling. (If the Property is Leasehold, your solicitor will need details of your Landlord or Managing Agent). |
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Your solicitor will answer all questions raised by your buyer's solicitor. |
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When the buyer's solicitor is satisfied with the information provided, a date for completion will be set and your solicitor will exchange contracts. The Buyer and Seller are now legally committed to proceed. |
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When your solicitor has received the purchase monies from the buyer’s solicitor, the Title Deeds are handed over. This is known as ‘Completion’. This is the day that you moved out and the property belongs to the buyer. |
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If you have a Mortgage, it is your solicitor’s duty to pay back the loan and all other due payments from the sale proceeds on your behalf. |
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