Seller and buyer agree a set price with Estate Agent.
Seller to instruct a solicitor. (We have a number of solicitors we have great relationships and we can provide a number of quotes for you to compare)
Estate Agent will inform both parties’ solicitors of the memorandum of Sale.
The sellers’ solicitor will draft the Contract and send this to the buyers’ solicitor.
The buyers’ solicitor will examine the title deeds and look into such matters as rights of way, access for repairs, restrictions on use, covenants etc. and carry out the local search, water search and which utility services serve the property.
The sellers’ solicitor will reply to enquiries the buyers’ solicitor may have raised.
Seller will sign their part of the contract.
The purchasers’ solicitor will report to you on the title documentation and provide a mortgage offer once received. They will then ask you to make a mutually convenient appointment.
Exchange of contracts
A deposit is paid by the purchasers to their solicitor who then on exchange of contracts binds of seller and buyer by the exchanging agreements for sale which set out the basic terms entered into. At this stage they commit themselves to the transaction and agree a completion date where the money and the keys will be given to the buyer. The deposit is non-refundable if the buyer does not proceed.
The buyers’ solicitor will obtain funds from the lender and will then electronically transfer the balance required to purchase the property to the sellers’ solicitor. The buyer then can collect the keys from the Estate Agent.
Seller to drop keys to the property at the Estate Agents office.
The seller will need to pay the Estate Agent fee which the sellers’ solicitor complete. (This is usually taken from the sale price. So the seller does not have to do anything)