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The Conveyancing Process Explained – A Step by Step Guide for Home Sellers

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Selling a property can be a very confusing and lengthy process but having a good solicitor or conveyancer will help it to run as smoothly and efficiently as possible.

Here is an overview of the conveyancing process.

Find a Conveyancer

The conveyancing process formally starts when you’ve accepted an offer on the property.

However, it’s recommended that you have a conveyancer in place before accepting an offer so that they can get the process started immediately and avoid delays.

When it comes to choosing a conveyancer, speak to two or three and get some quotes before deciding who to go with. Speak with our team at Spiller Brooks Estate Agents as we will also be able to make suggestions. Alternatively, if you have friends or family who have recently moved, find out who they used and if they were happy with them.

Don’t just go for the cheapest option, it could cause major issues further down the line.

Sign the Conveyancer’s Letter of Engagement and Verify Your Identity

Once you’ve chosen a conveyancer and discussed the fees involved, you’ll need to sign and return their Letter of Engagement as soon as possible (a verbal instruction is not sufficient). It’s only at this point that you commit to using their services. You will also need to verify your identity and address in the form of a passport or driving licence, utility bill or bank statements, make a payment on account and provide source of funding documents.

Complete Questionnaires

Your conveyancer will send you some forms to complete, including a Property Information Form and a Fittings & Contents form.

It’s vital that you complete these honestly, as failure to do so could lead to delays later in the process.

The Property Information form is where you tell the buyer about any changes that have been made to the property, such as extensions, solar panels or loft conversion. You’ll also need to provide any supporting documents you have, so if your double glazing is still under warranty or you have paperwork to show that your boiler has been serviced in the last 12 months, you will need to provide copies.

When it comes to fittings and contents, you don’t need to decide what you’re leaving behind at this point, you can confirm later or leave it open to negotiation. Your conveyancer will be able to advise how to complete the form if you get stuck.

Draft Contracts

When your conveyancer has received your completed forms, they’ll draw up a Draft Contract to send to the buyer’s conveyancer along with copies of the important documents.

Once the buyer’s solicitor has the results of their searches, it is standard practice for them to raise enquiries with your solicitor who may, in turn, refer them to you to answer.

If your buyer is purchasing with a mortgage it is likely a mortgage valuation survey will be required by the lender.  Equally a cash buyer may wish to instruct an independent surveyor to inspect the property. Depending on the survey results your buyer may request the advice of other professionals such as plumbers, electricians etc, who will require access to your property.

They may also request that you pay for the costs of any further inspections or repairs, but you will be under no obligation to agree to this. However, it’s at this point that a buyer may try to renegotiate on the final price of the property to take the extra costs into account.

Exchange of Contracts

Once the buyer is satisfied with the condition of your property and any subsequent negotiations are concluded, including a moving date, when all legal parties are satisfied with appropriate signed paperwork in place, Exchange of Contracts can then take place. 

At this point, both you and the buyer are fully committed to the sale/purchase of the property.

Completion

This is moving day. Typically, there will be a minimum of five working days between exchange and completion, however, a comfortable timeframe (dependent upon agreement by all parties) is usually in the region of 2 weeks to allow for booking removals and other moving-related arrangements.

 

If you are planning on selling in the Whitstable, Faversham, Herne Bay or Canterbury area please contact us for a FREE VALUATION – we are here to help 01227 272155 or fill out our online form. 

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