We understand that the sales process can be a little daunting and we have therefore put together a step by step guide to assist you in the sale of your property.
Along with sending to you our initial client care letter, we will also ask you to complete a number of standard forms, including the Sale Details Form, Property Information Form, Fittings and Contents Form, and Leasehold Information Form (if applicable) and ask that you provide your case handler with any relevant documents connected with the property such as deeds, certificates, guarantees and warranties.
Your case handler will obtain up-to-date electronic official copies from HM Land Registry and the costs of the same will be deducted from the proceeds of sale on completion. If the sale does not proceed through to completion, your case handler will deduct this from the money on account that we have received from you.
Once your case handler has received back our initial client care paperwork and £50.00 on account along with your completed Property Information Form, Fittings and Contents Form, and Leasehold Information Form (if applicable), he/she will prepare the draft contract for the sale and send this to the purchaser’s solicitors together with the Official Copies and copies of any certificates, guarantees, warranties and Energy Performance Certificate (EPC). If the Property does not benefit from a valid EPC which was carried out within the last 10 years, then you must instruct a EPC Assessor to carry this out prior to exchange of contracts, as it is a legal requirement a Property is sold with valid EPCs in place
Your case handler will apply to your current mortgage lender for the title deeds to the property and ask them for a statement showing the amount left to repay.
Once you have provided your case handler with details of your landlord/management company, your case handler will write to your landlord/management company and request that they provide us with their leasehold pack which is required by the purchasers. There is usually a fee for this information and as the seller you are obliged to meet any costs. Once your case handler knows the costs of the same he/she will be in touch with you.
Once the purchaser’s solicitors have examined the draft contract documentation that has been sent across to them, they may need to seek clarification on certain points. Please be advised that the purchaser’s solicitors are entitled to raise enquiries with our firm and your case handler may need to liaise with you to provide the information requested.
The purchaser is entitled to rely upon any information that is supplied to them on your behalf so it is important that any information supplied to us is accurate and that you make a full disclosure of any relevant facts about the property that you are selling.
Please note it is at this point that the purchaser’s solicitors will apply for property searches, please bear in mind that some of the searches can take up to 15 working days to be returned and this length of time can vary.
Once your case handler has reviewed the enquiries raised by the purchaser’s solicitors and have received satisfactory responses from you, he/she will revert back to the purchaser’s solicitors with replies to enquiries.
Once all replies to enquiries have been satisfied between our firm and the purchaser’s solicitors, your case handler will arrange the contract, transfer and any other relevant deeds and documents to be sent across to you which you will be required to sign and return to us. Once we have received your hard copy signed documents, an exchange and completion date will be agreed between all parties associated with this transaction. If you have agreed to exchange contracts with completion scheduled for a later date, the purchaser will transfer the deposit to their solicitor and at that point we will be ready to exchange contracts.
On exchange of contracts the transaction (and completion date) becomes legally binding. Your case handler will receive the deposit from the purchaser’s solicitor and will request a final redemption statement from your lender.
Completion is the ‘moving day’ and the balance of the sale price (together with any apportionments, if applicable) is transferred to us by the purchaser’s solicitor. You must ensure that you vacate the property and the keys are left with the estate agent, who will hold them until we have received the funds from the purchaser’s solicitors. “If any alternative arrangements have been made regarding key collection with the purchaser, please let us you know at the earliest opportunity so that once completion has taken place we can authorise for keys to be released”. We will repay your existing mortgage and settle all fees from the sale proceeds, the balance will then be sent to you either by bank transfer or cheque payment depending on your preferred method stated to your case handler.
What should I do next?
For an instant quote at a competitive price, please do contact a member of our Property Team on:
T: 0116 2999 1999 Option 0