Selling a property can seem like a complex process. This factsheet outlines the main stages so you will know what to expect.
Marketing
If you have not already found an Estate Agent to sell your house then we will be more than happy to assist you with your choice. It is important that you choose an Agent carefully and that the service which they are to offer meets with your requirements.
Preliminary Information
A great deal of basic information is required in order to prepare a "Sellers Pack". This contains several forms about the property and items such as Fixtures and Fittings which are included in the sale. We will send you the forms and explanatory notes for you to complete and return to us.
If you have a mortgage over the property then it will be necessary for us to obtain any title deeds and documents which may be held with your Lender. However as a result of dematerialization it may well be that no documents are now held and that any documents which there may so have been would have been forwarded to you to hold yourselves. We would ask that these be forwarded to us.
Wright Hassall has direct links with the Land Registry which will enable up to date registered entries relating to the title to be received at short notice.
Once a sale is agreed
Once you have found a buyer for the property the contract package will be sent to the buyer's Solicitors for approval. This will include copies of the documentation which you have returned together with details of the title required. A plan will be supplied to enable your buyers Solicitors to carry out any search applications necessary to meet both their client's requirements and those of any Lender.
During the course of the transaction enquiries may be received which will need to be addressed. We will be available to assist you with this.
Once your buyers Solicitors are in receipt of their search results and an offer of mortgage and have satisfactory replies to any enquiries raised they will then be in a position to proceed to an exchange of contracts. We will then arrange for you to sign the part contract so an exchange may be effected. Once contracts have been exchanged between Solicitors there is a legally binding contract between you and the buyer.
Exchange of contracts
Once all parties in the chain are ready to proceed and a completion date has been agreed contracts are exchanged. The buyer will be asked to provide a 10% deposit as a gesture of good faith unless more than a 90% mortgage is being received. The deposit will be retained until completion unless you have a related purchase in which case it can be utilized towards the purchase on such a related purchase.
Post exchange
Between exchange and completion we will arrange for you to sign the final Transfer document. We will also obtain settlement figures from any Lenders which have a charge over the property and also obtain your selling agents' commission account. These will be forwarded to you for approval before being settled out of the proceeds of sale.
Completion
On completion you should make necessary arrangements to read the meters at the property and inform the various authorities that the property has been sold. You should arrange for any keys for the property to be left with the selling agents unless private arrangements have been made between you and your buyer. It will not be necessary for you to call into the office on the completion date which will leave you free to concentrate on your actual move.
If you do not have a related purchase then we always ask for a temporary/forwarding address and contact numbers.
We will liaise direct with you as to distribution of the proceeds of sale unless monies are to be used for another purpose.
