What Are the Stages of Selling a Property?
Before you take any steps towards selling your property, you first need to know how much it is worth. You can do some of the initial research yourself on property websites, but you should then involve estate agents who can give their expert opinion on the value of your home. We would recommend talking to at least three different estate agents in order to get a balanced view.
With this initial step complete, now comes the time to find a good Solicitor with experience and accreditation in Property Law. Your Solicitor can advise you on the next steps, including how the process will work, what documents you will need, and any issues they foresee that may delay your sale.
The Solicitor will also handle important parts of the selling process along with your estate agent (if you choose to involve one). When you receive an offer you want to accept, your Solicitor can draw up an initial reservation agreement to act as insurance should one party back out of the sale at a later date.
When you have accepted an offer, your buyer’s Solicitor will conduct research on behalf of their client, including carrying out searches, making enquiries, and potentially bringing in a specialist surveyor to build a complete picture of your property. Your Solicitor will help you deal with these enquiries and any negotiations that may arise from them.
When all parties are happy, yours and your buyer’s Solicitors will exchange contracts on your behalf. Your Solicitor will receive purchase money from the buyer, at which point they will pay off your mortgage and deduct their fees, before sending you the remaining money. At this point, all that is left is for you to sign a document that authorises transfer of ownership, and then to move out. These final steps constitute the successful completion of your property sale.
What We Can Offer You
There are a lot of steps to selling a property, and a lot of things that can go wrong along the way – from buyers getting cold feet to legal issues coming to light during searches. That is why we would highly recommend involving an experienced and knowledgeable Solicitor in your property sale.
Our legal experts are accredited through the Law Society’s Conveyancing Quality Scheme, which attests to our expertise in Residential Conveyancing. Our knowledgeable Property Law team have many years of conveyancing experience and have helped countless homeowners sell property of all shapes and sizes.