Conveyancing Process for Sellers

The conveyancing process for sellers involves several key steps to ensure a smooth and legally compliant transfer of property ownership. Here is an overview of the typical conveyancing process for sellers:

Instruction of a Solicitor:

Start by researching conveyancing solicitors in your area. You can use online directories, recommendations from friends or family, or check with estate agents for suggestions.

Property Information Forms:

You will need to complete various property information forms provided by your solicitor. These forms contain essential details about the property, such as boundaries, fixtures and fittings, and any disputes or issues that may affect the sale.

Obtaining Title Deeds and Documents:

Your solicitor will obtain the title deeds and other relevant documents related to the property from your mortgage lender or Land Registry. These documents will be necessary for the sale process.

Drafting the Contract of Sale:

Your solicitor will prepare the draft contract of sale, which includes details of the property, the sale price, and any special conditions. They will also provide copies of relevant documents to the buyer’s solicitor for review.

Responding to Buyer Enquiries:

The buyer’s solicitor may raise enquiries about the property based on the information provided in the draft contract and property information forms. Your solicitor will liaise with you to provide accurate and timely responses to these enquiries.

Agreeing on Completion Date:

Once all enquiries have been addressed, and both parties are satisfied with the terms of the contract, a completion date is agreed upon. This is the date when ownership of the property will transfer from you to the buyer.

Exchange of Contracts:

On the agreed exchange date, contracts are exchanged between the buyer’s and seller’s solicitors. At this stage, both parties become legally bound to the transaction, and a deposit (usually 10% of the purchase price) is paid by the buyer.

Completion:

On the completion date, the balance of the purchase price is transferred from the buyer’s solicitor to your solicitor. Once the funds are received, ownership of the property is legally transferred to the buyer, and you must vacate the property and hand over the keys.

Settlement of Mortgage:

If you have an outstanding mortgage on the property, your solicitor will arrange for the repayment of the mortgage using the funds received from the buyer’s solicitor.

Post-Completion Formalities: 

After completion, your solicitor will handle any post-completion formalities, such as notifying utility companies and the local council of the change of ownership and providing you with the proceeds from the sale.

Here at MSR Solicitors, we will keep you informed throughout the conveyancing process, advise you on any legal issues that arise, and work to ensure a smooth and successful sale of your property. Why not contact us today.

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