How do conveyancing solicitors help you sell your home?

June 10, 2010

Whether it’s a freehold or a leasehold property that you have decided to sell, opting for conveyancing is sure to be stressful as well as an expensive affair. For many people out there, this is the most expensive transaction that they would have completed in their personal capacity. The article here provides some information about what exactly happens when you decide to sell a property.

* After you have properly instructed your conveyancing solicitors, they will now start collecting the deeds that are related to your property. If you have a current mortgage on your property that you are planning to sell, your conveyancing solicitors will need all the detailed information of the redemption amount. This can be arranged from your bank or from your building society.
* The next step involves filling out all the necessary forms. These forms include the Fixtures, fittings and seller’s property information form. The form requires relevant information about the property that is being sold and has to be filled by the seller. You will also be required to list all the items that have to be incorporated with the sale.
* The conveyancing solicitor will now prepare a draft contract about the sale of the property and will have it sent over to the buyer’s solicitor. The buyer’s solicitor will then check the draft and ask for any clarification or request any negotiation.
* Your conveyancing solicitor also hands over the property information form that shows the fixtures and fittings to the buyer. This form is very important and has to be filled carefully since it later is added to the final contract.

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* If the buyer or their conveyancing solicitors have any questions regarding the property or the contract, your solicitors will have to answer them. They may require your help on certain issues. Since this is done to safeguard the interest of the buyer, it is very essential to answer any questions that he or she might have.
* After everything has been cleared and sorted out, the solicitors from the buyer’s side return the contract with all the agreed points.
* Now comes the duty of your conveyancing solicitor to approve the drafted contracted with all the terms that have been agreed to. You will be then be required to sign it. Again, your solicitors will approve the redemption figure of the mortgage and then agree on a completion date with the buyer.
* Now comes the time when the contracts have to be exchanged. The solicitors from the buyer’s side will ask the mortgage money from the lender and then prepare the final agreement. All this will have to be agreed by the solicitors from the seller’s side, too.
* It is suggested that the buyer do a little more search on the property before the final targeted date. The solicitors from the seller’s side may also receive a draft transfer document from the solicitors that are hired by the buyer. After your solicitors have gone through this document and agreed, you will be required to sign it. The sale is now almost complete.
* The keys to the property must be kept ready at the time of the completion of the sale. Remember to read all the utility meters before you leave the premises.
* When the transfer is completed, the buyer will hand over any outstanding funds and will also pay any mortgage that stand on the property.

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Category: Cheap Conveyancing, Property Conveyancing

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