Conveyancing UK – Selling a property in England & Wales
Conveyancing Sale Stage One – Sale Contract
Once the sale has been agreed, your property solicitor will:
- Obtain your title deeds and ask you to fill in a detailed questionnaires such as a Sellers Property Information Form
- Obtain your Home Information Pack from your Pack provider
- Prepare and send out a contract packaging of legal information and a contract for sale as well as the Home Information Pack to the buyer’s property solicitor
- Obtain a redemption figure from your current lender and any other secured loans, and send it to you to check
- Liaise with all relevant parties, including the property solicitor for the buyer and negotiate a completion date.
Conveyancing Sale Stage Two – Exchange of contracts
Once exchange of contracts has taken place, your property solicitor will:
- Receive the contract deposit as a down-payment, normally 5 or 10 percent of the sale price
- Draft the final bill and accounts and prepare a financial settlement for your approval
- Approve or amend the transfer deed form the purchaser’s property solicitor and arrange for you to execute it in front of a witness.
Conveyancing Sale Stage Three – Completion
Upon completion of the sale transaction, your property solicitor will:
- Discharge the mortgage and notify HM Land Registry
- Pass over the deeds and send any proceeds of sale to you.
For the avoidance of any doubt please note that Fridaysmove are Licensed Conveyancers rather than Conveyancing Solicitor although many of the staff at Fridaysmove originally qualified as a property solicitor.
Licensed Conveyancers, sometimes referred to as Property Lawyers are regulated by the Council of Licensed Conveyancers as opposed to Property Solicitors who are regulated by the Law Society.