© Copyright Glaric Consultancy Ltd. 2014
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Guide to moving home
East of Exe
What do we need to know about the Sales Process?
The process of selling a property may to many appear complicated,
lengthy and drawn out, however, the following paragraphs will help
you to better understand what happens.
Before you take the decision to put your property on the market,
you would be well advised to instruct a Solicitor or Conveyancer to
handle your conveyancing.
The majority of people will not speak to a Solicitor until they have
received an offer, however this can have the effect of delaying the
entire process.
Once you have accepted an offer on your property we will issue
a Sales Memorandum to all parties and their Solicitors to confirm
the offer and any conditions attached to that offer. Your Solicitor
will then be tasked with producing a draft contract for the buyers to
consider in relation to the purchase of your property
As part of the conveyancing process, you or your Solicitor may
be asked questions about your property or you may be asked to
produce documentation supporting any information you provide.
Your buyer’s Solicitor will also commence the legal and local
authority searches legally required for a sale.
These will confirm your legal right to sell the property which is
called ‘Evidence of Title’ and will also confirm the boundaries of the
property.
Once all the searches and other details have been agreed, a
contract for the sale will be put together and will be exchanged, this
is known as ‘the exchange contracts.’
This is also the point at which a completion date will be arranged
with the buyer.
On the agreed completion date, the appropriate funds will be
transferred from the buyer’s Solicitor to your Solicitor and when this
has been confirmed you will pass over the property keys to your
buyer.
Never hand over the keys until your Solicitor has told you that the
transfer of funds has been completed.
You should never at any time attempt to conceal information and
should answer any questions honestly and to the best of your
knowledge.
Any communication must be through your Solicitor. Never
communicate with your buyer’s Solicitor or with your prospective
buyer.
The process is involved and it needs to be if your best interests are to
be safeguarded. East of Exe and your Solicitor are there to help.
