Sale of a Residential Property
Key stages and work included
The work involved in the sale of a residential property differs from sale to sale, however, we have set out the key stages involved in a typical sale transaction:
Take your instructions.
Check the title of the property you are selling and provide advice.
“Prepare documents including the contract of sale and deeds relating to your sale.
Request any redemption figures from lenders.”
Answer questions/enquiries raised by the buyers’ solicitors.
“Provide information to you relating to the property you are selling.
Approval of the transfer deed from the buyer(s)’ solicitors.”
Contracts exchange following negotiations on the terms.
Completing your sale and accounting to you for the proceeds or receiving from you any monies required to complete the sale.
Dealing with all post-completion matters including, but not restricted to, repaying any outstanding mortgages or loans.
Our Service will not include any of the following:
Advice on the value of the property.
Any inspection of the property.
Advice on any planning implications unless specifically instructed to do so. This may be subject to additional charges.
Any checks on the property to ensure that the build is in accordance with any planning permissions granted.
Advice on any search result findings that identify contaminated land, fracking sites, or other environmental issues.
Any advice on tax or other accounting matters.
Renegotiating sale price.
The time it takes from the date you instruct your solicitor until the sale is completed, will depend on a number of factors. The average process takes around 12-16 weeks but may take longer for a leasehold property.
The whole process can be quicker or slower depending on the efficiency of the other parties in the chain such as the buyer’s solicitors, the solicitors representing other buyers and sellers, your buyer’s bank if they are taking out a mortgage, search providers and the relevant local authority to conduct your buyer’s local search.