Selling and Buying Guide
Sale
Purchase
Instructions You will have received our quotation for the costs and disbursements relating to your property sale/purchase. If you want to instruct us to act for you please let us know.
File Opening We will send you an Engagement Letter and our Terms of Business and some other forms which you will be required to complete. We will ask you for some money on account.
Money Laundering We have to comply with Money Laundering legislation and part of this is ensuring that we have adequately verified your identity and the source of any funds passing through our client account.
Memorandum of Sale This is sent out by the Estate Agents (if applicable) and confirms the details of the sale/purchase along with the details of the legal representatives appointed by each party.
Receiving the Contract The seller’s solicitor will send us a Contract Pack which contains the draft Contract and the information held by the Land Registry relating to the property. We should also get the Fittings and Contents Form at this stage which provides details about the items being left at the property.
Sending Out the Contract Pack We send out the Contract Pack which confirms the sale price, the property boundaries and the items which are being left at the property.
Dealing With Enquiries The buyer’s solicitor may have questions relating to the property and the Contract Pack and they will be sent to us.
Submitting the Searches Once we have a Land Registry Plan relating to the property you are buying we can request your searches.
Your Mortgage We will ask you for information relating to any mortgage you have in connection with this property so that we can ensure that your mortgage can be redeemed (paid off) on Completion.
Raising Enquiries We will raise any queries we have on the Contract Pack and searches with the seller’s solicitor.
Your Mortgage Offer We will receive instructions to act for your Lender in relation to your purchase and we will receive a copy of your Mortgage Offer which we will report to you on. You will need to sign a Mortgage Deed.
You may find that there is a time where you are waiting for your purchasers to confirm they are ready to proceed. They need be sure all their funding is in place and that they are happy with their purchase.
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