The legal process - What the seller's Solicitor will do
Step 1 - The sale is agreed
- You now need to instruct a Solicitor or Conveyancer to act on your behalf and provide them with details of the property, sales price and other involved parties. the Estate Agent will normally write to your Solicitor with most of these details
- Solicitor checks title deeds and land registry information
- You are asked to complete various forms detailing property information such as fixtures, fittings and contents
- Solicitor prepares a contract of sale and sends it to the buyers solicitor
- Solicitor may ask you for further information the buyers solicitor may have requested on behalf of their client
- Negotiations regarding the actual move date (completion) take place
Step 2 - Contracts are exchanged
- Confirmation of actual completion date
- Deposit received by your Solicitor from the buyers Solicitor
- Solicitor requests settlement figures from your mortgage lender(s)
- Solicitor approves the transfer deeds and arranges for you to sign it
Note : After contracts are exchanged the sale becomes legally binding
Step 3 - Completion
On completion your Solicitor will :-
- Receive final balance of purchase price from buyers Solicitor
- Pay off the balance of any outstanding mortgage you may have
- Send the property deeds to the buyers solicitor
- Sends any balance to you or uses it towards purchase of your next property
