The following reasons are why you can be sure that you are in safe hands;
A solicitor or conveyancer usually conducts the conveyancing process and this involves legally transferring home ownership from the seller to the buyer. Sometimes this process can be smooth and very quick; but sometimes it can be very frustrating and protracted. It starts from you accepting an offer for your property and finishes when you hand over the keys to the buyer. Understanding what the process involves will help ensure there are fewer nasty surprises along the way. In the first instance you will need to refer any questions about your sale to your lender or conveyancer as we have no authority in this regard, but we will always be on hand to help and advise you.
To reduce delays, it is best to have chosen which conveyancer you want to use around the time you choose your estate agent. You will be asked to complete a few questionnaires about the property and what you intend to include with the sale. This list of questions will be provided to you by your conveyancer.
Your conveyancer uses this information to draw up a draft contract. This is sent to the buyer for approval.
There are likely to be negotiations over the draft contract. Things to agree include:
You may plan to pay off your mortgage by requesting a redemption figure from your mortgage company. This is how much you pay upon completion of the sale.
You and the buyer will have agreed on a date and time to exchange contracts. At that time your conveyancer will exchange contracts for you. This is usually done by both conveyancers making sure the contracts are identical, and then immediately sending them to one another.
If you or the buyers are in a chain the conveyancers will do the same thing, but will only release it if the other people in the chain are all happy to go ahead. This means if one person pulls out or delays, then everyone in the chain gets held up.
Once you have exchanged contracts you will be in a legally binding contract to sell the property. It is important that you understand your responsibilities in this and that the buyer is aware that if they do not complete the purchase, you will probably keep their deposit.
We wish you the very best for the future in your new home!
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