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What Happens Next on a Sale

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Before exchange of contracts your solicitor will:-

  • Obtain your title deeds from your lender, or from you if you have no mortgage
  • Obtain copies of the entries on the Land Register relating to your property
  • Ask you to complete questionnaires about your property which will include details of what fixtures and fittings are included in the sale.  It is important that you answer the questions correctly as the information will be passed on to the buyer.  If the information is wrong it may enable the buyer to obtain compensation from you and in some situations even cancel/set aside the sale
  • Send a draft contract to the buyer's solicitor for approval
  • Answer questions from the buyer's solicitor about the property
  • Agree with you and the buyer's solicitor the date for completion of the sale
  • Ask you to sign the contract

After exchange of contracts your solicitor will:-
  • Answer the buyer's solicitor's questions about your title to the property
  • Approve the draft transfer deed prepared by the buyer's solicitor
  • Ask your lender to confirm the sum required to discharge your mortgage
  • Ask you to sign the transfer deed

After completion your solicitor will:-
  • Discharge your mortgage
  • Pay your estate agent his commission
  • Pay you any money due to you after meeting the costs of the sale including the estate agents commission, discharging the mortgage and any related purchase

 

Buying or Selling your home
Things to Bear in Mind
What Happens Next on a Purchase
The Residential Conveyancing Team

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