The first step you need to take when considering selling your house is to employ a solicitor.
There is a lot of work involved in selling your own property, it’s very important not to underestimate the time involved and the need to devote sufficient time to achieve the best for you and your family. Having a solicitor will take the weight off your shoulders right from the beginning.
When selling a house, difficulties often arise and by hiring a solicitor this will all be dealt with for you and rest assured they will keep you informed every step of the way. A solicitor and their team will regularly be in contact with you by letter, email or over the phone and provide a fast and efficient service.
Stage one- agreement of sale
The first stage of selling a house is the agreement of a price and a sale confirmed. Once agreed your solicitor will obtain the title deeds and you will be asked to fill in a detailed questionnaire regarding your house usually known as a “property information form”. Your solicitor will also require a completed copy of “fixtures, fittings and contents form”, this is for the new buyer to establish what exactly is and isn’t included in the sale. For example will you be leaving the carpets and light fittings?
You will soon be receiving some legal information in the post for you to read and understand, there will also be a contract for you regarding the sale of the house. The solicitors will also request a settlement figure from your mortgage company and the figure for any other secured loans you may have. Appointing a solicitor for the sale of your house will take away the stresses and worries you may have, all relevant paperwork is sent out to you and the buyer and their solicitor as and when it needs to, they will liaise with the other legal team involved and negotiate a date for moving (completion).
Stage two- exchanging of contracts
It all starts to become real when the time comes to exchange contracts, a very exciting time for you and your family. Once exchanged, your solicitor will take a deposit as a down-payment. The final accounts will be organised, and a settlement figure will be prepared for your approval. Your solicitor will then collect the balance of any funds due. The deed of transfer will be approved, and you will need to arrange a suitable time to go to the solicitors and sign it.
Stage three- completion
It all becomes real when you hear the word completion mention. Upon the completion of the sale of your house, the solicitor will pay off the existing mortgage you had and then inform the land registry. The deeds will then be handed over to the new owner and if required send any money owed to you over.
Once your solicitor has confirmed that the sale has completed, you will need to arrange to drop all keys to the property off to the estate agents for the buyer to collect