We feel it is important that you understand our role and our responsibilities in the process ahead. We have set out the tasks we will undertake as your solicitor. Please contact us if you have any queries about any of the information in this leaflet.
The main steps are:-
- We will request your title deeds from your current lender. Please let us have details of your lender, to include your mortgage account number, as soon as possible. You will find these details on your most recent mortgage statement. Please note that the length of time it takes for a lender to release your title deeds is beyond our control.
- We will prepare the sale contract and send your title deeds from the Vendor’s Solicitors on their promise to return them to us at any we ask them to.
- We will obtain property certificates and searches from various statutory bodies (local council, water service, roads service, EJO and planning) relating to the property and send these to the Purchaser’s solicitor.
- We will assist you in ensuring that all matters involving Planning or Building Control are in order and that any alterations or additions to the premises have been approved by the Planning and that the building works have been certified by local Building Control, if they fall within the appropriate periods;
- We’ll assist you in completing your replies to Pre-Contract Enquiries which we will send to the Purchaser along with your fixture and fitting list.
- We will advise you of any issues which the Purchaser’s surveyor might have identified in their survey.
- We will deal with any enquires relating to the title, your replies or the property generally and will request the Purchaser’s Offer to Purchase.
- Once we have received the contract with the Offer to Purchase we will:
- Have you attend at our office to explain the Contract and any special conditions in the contract. If it is in order we will have you sign the contract accepting the Offer and agreeing to the suggested completion date;
- Approve, and have you sign, the legal deed which will transfer legal ownership from you to the Vendor at completion;
- We will return the contract, accepting the Purchaser’s offer and agreeing to the suggested completion date and legally binding both parties to complete;
- We will obtain a statement from your Lender showing the balance of your mortgage as at the completion date so we can repay (‘redeem’) your mortgage on the day of the sale. This Redemption Statement will also include fees charged by your Lender to close your account ;
- We will send you a cash statement showing the net amount due to you together with our bill of costs for approval. Please approve our costs and cash stamen as soon as possible – it helps us release your net sale proceeds to you sooner.
- On the day of completion we will negotiate the completion letter and the various undertakings usually contained and receive your purchase funds to the Vendor .
- We will liaise with you and/or your agent to have the keys released to the Purchaser;
- Once your sale funds have cleared we will redeem your mortgage and arrange for them endorse a receipt of your payment on your original mortgage deed.
- We will then deduct our costs and outlays and send your net sale proceeds to you.
You may have noticed that there is a lot of information to be provided to the Purchasers with the majority of this coming from third parties. We will also have to wait until the Purchaser obtains their mortgage offer from their Lender. Because of this, and taking into account any issues which arise from our inspection of the title deeds, it is impossible to accurately predict how long the process can take. In our experience, the majority of sales should be completed within 6-10 weeks.
As your solicitors, it is our duty to use our professional judgment to protect your interests. We assure you that we will make every effort to keep you informed about the main developments of your case, by letter, email, or telephone call as frequently as may be necessary.
If you have any queries at any time, please don’t hesitate to contact us