The house sale process
The steps below describe what actually happens during the house sale process, and
what your solicitor and the buyer's solicitor do during the period leading up to
you receiving payment for your house.
| 1 |
Solicitor provides written confirmation of fees and other matters and asks Seller
to complete Seller's Property Information Forms (SPIF) and List of Fixtures and
Fittings.
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Solicitor provides written confirmation of fees and other matters and asks the Buyer
to provide the cost of the initial searches.
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Solicitor now waits for draft contract documentation - in particular a filed plan
of the property.
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Solicitor orders Office Copy entries and filed plan from HM Land Registry and obtains
title deeds from the Seller or, if he has a mortgage, from the mortgage lender.
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Solicitor prepares Draft Contract documentation and forwards this with SPIF, Fixtures
and Office Copies to Buyer's Solicitor.
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| 2 |
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Searches are applied for which could have a 2 to 3 week lead time (usually much
quicker)
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| 3 |
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Solicitor might wait for searches to be returned before approving/amending the draft
contract - raising any enquiries with the Seller's Solicitor - and drafting the
Transfer document for the Seller's Solicitor to approve.
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Solicitor approves/amends the draft Transfer and replies to any enquiries.
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| 4 |
Seller meets with his Solicitor to discuss dates and sign the Contract and Transfer.
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Buyer meets with his Solicitor to discuss dates, mortgage offer and sign the Contract,
Transfer and Mortgage Deeds (and to provide any balance of purchase funds - (if any).
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| 5 |
Solicitors EXCHANGE CONTRACTS (over the phone), legally committing buyer and seller,
and agreeing a date for completion.
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| 6 |
COMPLETION will then take place on the dates agreed, at which points the seller
is paid in full, and the buyer collects the keys.
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I needed to sell my property extremely quickly. I received an immediate and sympathetic approach from A Quick Sale. Richard dealt with my queries and worries in the most professional manner. I would not hesitate to recommend A Quick Sale and Richard, in particular, to anyone searching for a quick sale.
Mr R, St Albans
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