Conveyancing process – flowchart for sellers

Initial Contact

When you get in touch with us, we will discuss your
requirements and provide you with a fee for the work involved.
We will send you a client care letter, setting out our commitments to you and our terms of business, and some property information forms for completion.

Instructions

We will receive a memorandum of sale from the estate
agents, giving us details of the offer, the buyer’s solicitors’ details and any special conditions.

We will contact the buyer’s solicitors.

Contract Package

We will prepare a draft contract and obtain copies of the Land Registry title, and send these together with information forms to the buyer’s solicitors.

If the property is a leasehold property, we will apply to the freeholder or management company for details relating to service charge, maintenance, insurance etc.

Replies to Enquiries

The buyer’s solicitor will carry out searches and the buyer may carry out a survey.

When they have all of this, they will send us enquiries and we will go through these with you and rep

Exchange of Contracts

When you and the buyer are ready, contracts can be exchanged. This is the point at which the transaction becomes legally binding on both of you. The buyer will provide a deposit, which is usually 10% of the purchase price unless otherwise agreed. At this stage the completion date is set.

Completion Day

When you have moved out of the property, you should leave at least one set of keys with the estate agent and we will advise them when keys may be released.

When we receive the completion money from the buyer, we will complete the transfer documents, arrange to redeem any mortgages, pay the estate agent and our fees and send you the net proceeds.

Preparation for Completion

The completion date, agreed on exchange, is the date by which you should move out of the property. You will need to ensure your removal arrangements have been made so that you will be able to vacate the property by the time we advise, usually around lunchtime.

We will send you a completion statement at this stage, advising you of the net sale proceeds. You will also need to sign a transfer deed which we hand over to the buyer on completion.

To discuss this and to obtain more information contact:
Dickins Hopgood Chidley Solicitors,
The Old School House, 42 High Street, Hungerford, Berkshire, RG17 0NF 01488 683555