Ward&ChowenPublication

Ward & Chowen

www.wardchowen.co.uk

Having taken the decision to sell your property, the length of time required to effect a successful sale can vary - from six

weeks to several months, depending on the circumstances of each of the parties involved and particularly on the length

of any related “chain” of sales. As a property vendor, there are certain steps that you can take to make the process more

efficient, although many of the key milestones typically happen at reasonably predictable intervals, as indicated below.

Both prospective vendors and purchasers are encouraged to become familiar with the process, so as to know what to

anticipate at every step.

• Prepare property for sale

• Arrange property valuation

• Instruct an agent, order an Energy

• Performance Certificate (EPC)

• Commence marketing, carry out viewings

• AGREE A SALE

• Instruct a solicitor to prepare a draft contract,

complete necessary paperwork

• Draft contract and transfer sent to buyers’ solicitor

• Solicitor responds to enquiries

• CONTRACTS EXCHANGED, with a date set for

completion of the sale

• Confirm removal arrangements, if necessary

• Transfer utilities accounts

• COMPLETION, ensure all keys are with the selling agent

• Initial research into desired area

• (Obtain mortgage agreement in principle with

chosen lender)

• View suitable properties

• AGREE A PURCHASE

• Supply proof of funds to selling agent

• Instruct solicitor/conveyancer, searches applied for

• Arrange a survey (and begin full mortgage

application, if necessary)

• (Mortgage lender instructs valuation of property)

• Solicitor checks title and searches, raises enquiries

with vendors’ solicitor

• (Lender approves your mortgage)

• Conveyancer reports to you, approves the contract

and transfer

• Transfer your deposit to your solicitor

• CONTRACTS EXCHANGED, with a date set for

completion of the purchase

• Confirm removal arrangements, if necessary

• Transfer utilities accounts

• COMPLETION, pick up keys from the selling agent

The Selling Process

Selling

Buying

Quick reference - Stamp Duty Land Tax (SDLT)

This is the taxation on property when purchased, payable by the

purchaser. The amount of tax is determined by the purchase price

of the property and divided into thresholds, as follows, with only the

portion over the threshold being subject to the higher rate of tax:

£0 - £125,000

0% (no tax)

£125,001 - £250,000 2%

£250,001 - £925,000 5%

£925,001 - £1.5 million 10%

> £1.5 million

12%

1-2 Weeks

1-4 Weeks

4-12 Weeks

Thank you so much for all

your help and guidance…

Ward & Chowen have been

fantastic... You have made

the process a lot less stressful

than it could have been.”

– Mr and Mrs T