Sale Flow Chart
You instruct us to act for you in relation to the sale of your property.
We provide you with Letter of Engagement and Terms of Business, together with Form of Authority, Overriding Interest Form and Property Information Forms.
You provide us with ID documents, signed Terms of Business, completed forms and monies on account.
We apply for Official Copies from Land Registry, we draft Contract and send to buying solicitors for approval, together with supporting documentation.
We await return of draft Contract with approval/amendments, together with Transfer Deed (TR1) and any enquiries that they wish to raise. The Transfer Deed is the document used for registering the new proprietary interest at the Land Registry.
We respond to buying solicitor’s enquiries and if necessary, obtain your replies in relation thereto to forward on.
Once buying solicitors are satisfied that all replies have been answered, and the Contract and Transfer Deed are agreed, we will invite you to come to our Office to sign the legal documentation.
During your meeting with us to sign Contract and Transfer Deed, we will discuss your preferred completion date/s.
We request Redemption Statement from your Lender (if applicable).
We contact the buying solicitor to inform them that we are ready to exchange and preferred completion date/s, and whether they are in receipt of 10% deposit.
We confirm with you that you are happy to exchange Contracts based on the agreed terms set out therein.
Exchange of Contracts takes place; Contracts are now dated and the time noted by the solicitors on both sides of the transaction. We receive 10% deposit from purchasing solicitors. You are now legally bound by the terms of the Agreement and must complete on the date agreed.
We receive the balance of purchase monies from the purchasing solicitors, minus 10% deposit. We confirm safe receipt with them and release keys to estate agent (as is usual) for the buyer/s to collect. We redeem your mortgage (if applicable).
We pay the estate agent commission account in relation to your sale.
Your file is closed and held in storage for 6 years.