- Once you have confirmed that you would like Garnett Wilson to act for you, we will send you our Sale Questionnaire to complete, sign (by hand) and return. You should sign and return this Questionnaire as soon as possible so that we can open a file and begin progressing your matter for you. We will also need to see you in person with your photo and proof of address ID documents for anti-money laundering purposes. If you are unable to get to our offices to verify your photo ID and proof of address documents, you can take them to either your mortgage broker (if they are FCA registered), a solicitor locally to you, your bank manager, your doctor, or a qualified accountant to be verified. The verified documents can then be sent to us by e-mail as an attachment along with details of the person/company that verified them for you.
- Once we have details of your buyer and their solicitors/conveyancer and the property particulars for the Estate Agent, we will write to them to confirm they have been formally instructed by your buyers.
- Your conveyancer will also require completed copies of the “Property Information Form” and the “Fixtures, Fittings and Contents Form”. These are standard forms provided by your conveyancer. If your property is leasehold you will also need to complete a “Seller’s Leasehold Information Form”.
- You need to let your conveyancer know from the outset if you are also buying a property and need the transactions to be tied together.
- You should inform your estate agent which conveyancer you are using so that they can send a “Memorandum of Sale” to all the relevant parties together with a copy of the property particulars.
Legal Work prior to Contracting to Sell
- Once your conveyancer has obtained the title deeds and you have returned the standard forms these are sent to your buyer’s solicitor/conveyancer for approval together with a supporting package which will include documents dealing with title, planning and any guarantees that are applicable.
- If the property that you are selling is leasehold, your conveyancer will request a standard Leasehold Management Information Pack from the Landlord and/or their Agents. The Landlord/Agent is entitled to charge a reasonable fee for this service, which will be payable by you.
- Once your buyer’s solicitor/conveyancer has examined this paperwork they may need to seek clarification on certain points. They are entitled to raise enquiries with your conveyancer who may need to liaise with you to provide the information requested.
- The buyer is entitled to rely upon any information that is supplied on your behalf so it is important that information supplied to your conveyancer is accurate and that you make a full disclosure of any relevant facts about your property.
- Your lender will supply an up to date statement to your conveyancer detailing the amount which is required to repay your mortgage.
- You should provide your conveyancer with details of all loans secured against your property as these will need to be repaid upon completion of your sale.
Signing your Contract
- Once the contract has been approved by your buyer’s solicitor/conveyancer you will be contacted by your conveyancer to sign it in readiness for exchange.
Exchange of Contracts
- Before an exchange can take place all the parties involved need to agree on a completion date.
- From the point at which contracts are exchanged you are legally bound to sell and your buyer is legally bound to buy. Should either party back out the other will be entitled to claim compensation for losses arising.
Between Exchange and completion
- Your conveyancer will send you a statement detailing their charges, loans to be repaid and all other outgoings. Any balance due to your conveyancer will need to be cleared in their account prior to the completion date.
- You will be required to sign a Transfer Deed in readiness for completion.
- Your conveyancer will repay any mortgages and other expenses, give an undertaking to your buyer’s solicitor/conveyancer to send your lender’s formal release of mortgage and send the title deeds and signed transfer to your buyer’s solicitor/conveyancer.
- Once your conveyancer has confirmed that all the remaining monies have arrived your sale has completed. You should arrange to drop off the keys with the agent for the buyer to collect.