Selling Your Home - 10 Steps To Follow

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Selling your home can be one of life's most stressful events, whether it is a freehold house or leasehold flat. It also involves what is probably the most expensive financial transaction you will ever carry out. You will need conveyancing solicitors to help you sell your house - but what is actually involved in house sales?

1. Once they have your instructions, your conveyancing solicitors will get hold of the deeds to your property. If there is a mortgage on the property your solicitor will need details of the redemption amount from your bank or building society.

2. You will then need to complete a Seller's Property Information form and a Fixtures and Fittings form, giving details about your property and the items that are to be included in the sale.

3. Your solicitor will draft the contract for the sale of the property and send this across to the buyer's solicitor for them to check.

4. The Seller's Property Information and Fixtures and Fittings forms are also given to the buyer and later will become part of the contract and therefore it is absolutely essential that these are completed accurately.

5. Your solicitors then need to answer any queries that the buyer and their solicitors have about the property. Once this has been sorted out, the buyer's solicitors should return the agreed contract.

6. Your solicitor will next approve the draft contract with you and arrange for you to sign the contract and then they will approve the mortgage redemption figure and agree a completion date.

7. Exchange of contracts - they will now request the mortgage monies from your lender and also draft the final transfer document and agree this with the seller's solicitors.

8. The buyer must then do more searches before the completion date. They will also forward your solicitor a draft transfer document for them to check and agree. When approved, you will need to sign the document too. You should now be ready to complete your sale.

9. Keys to the property must be available at the time of completion. Make sure all utility meters are read before the premises are vacated.

10. At completion your solicitor will receive the outstanding funds from the buyer's solicitors and send the signed transfer and deeds to them and then pay off any mortgage on your property.

Don't forget that if you are also buying a house the two transactions will usually have to be synchronised.

When coming to sell your house or flat, for a stress free sale make sure you choose a local conveyancing specialist.

About the Author:
Bonallack & Bishop in Andover are a firm of specialist conveyancing solicitors with a team experienced in advising on selling leasehold and freehold properties. Senior partner Tim Bishop is responsible for all major strategic decisions and has expanded the firm by 1000% in 12 years. He has plans for its continued growth, seeing himself as a businessman who owns a law firm.



Article Originally Published On: http://www.articlesnatch.com


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