A short guide from sale to completion
At Stevens and Carter we will guide you through the selling process to maximise the chances of making a quick and successful sale at your asking price.
Our staff will be on hand to photograph the property and compile a brochure detailing the specifications of the property.
We will arrange for a clearly visible board to be erected outside the property and details of the sale will be distributed via SMS and email to our extensive database of house hunters.
We also utilise online property portals such as Rightmove and onThemarket to optimise the chance of achieving a swift sale for you.
Choose a solicitor
Now the sale has been tied up and an acceptable purchase price agreed between both parties, you will need to instruct the services of your chosen solicitor. This is imperative, as no sale can get formerly underway until a solicitor has been appointed.
When instructing a solicitor, choose one that you feel comfortable talking too, as this person will be your main source of update in the conveyance period, right up until completion.
Through Stevens and Carter Conveyancing we are pleased to recommend a solicitor for you we know will provide a good quality service.
On a sale, they will request the deeds to your property from their place of safe keeping, and prepare draft contracts to send to your purchasers solicitors. They will also issue fixtures and fittings forms and Leasehold information where required in order that enquiries from purchasers solicitors can be answered correctly.
On a purchase, they will immediately request payment for a local search, which is essential for any purchase. These will be applied for directly to the appropriate council body upon receipt of the draft contracts from the seller's solicitors.
Once the sale of your property has been agreed, the majority of responsibility leaves the estate agents and is handed to the solicitors.
We will of course be closely monitoring the sale of your property, however, any information we receive will be 'third hand' from your solicitor, so in the first instance, seek an accurate update from your solicitor.
On any purchase that requires mortgage funding, an application for mortgage will have to be made to the appropriate companies. At this stage, you as the purchaser will be granted an AIP (Agreement in Principle) which confirms you have the mortgage subject to necessary credit checking and referencing.
It is imperative you submit your mortgage application as soon as possible to avoid delays. We are pleased to provide specialist mortgage advise through local independent brokers.
When the mortgage company has approved the initial mortgage application, they will instruct the services of a Chartered Surveyor to ascertain the condition and value of the property.
On most occasions, the Building Society will contact ourselves for access to the sold or purchased property, and we will arrange for them to inspect the property.
Most Building Societies will instruct a standard mortgage valuation, a more detailed homebuyers survey may be obtained at the purchasers discretion.
Following Survey, on the majority of older properties regardless of general condition, specialist reports maybe requested by the surveyor. These may include: Timber and Damp Reports, Electrical Reports, Roof Report, Drainage Report, Structural Survey, Sulphate Report, Tree Reports, Gas Check.
These reports often show up minimal work, and we shall liaise with all parties once copies of reports are received.
Once the survey has been returned to the Building Society and all credit checking and referencing confirmed as satisfactory a formal Mortgage Offer will be issued. This will be sent to the mortgage purchaser and to their solicitors.
Signing of contracts
Once the solicitors have received all the information they require prior to exchange of contracts, both sellers and purchasers will be asked to attend the solicitor's office to sign the contract in readiness for the exchange.
Exchange of contracts
Once all parties in the chain have signed the contract, mortgage offers have been received, replies to enquires answered, local searches received and deposit monies cleared the solicitors will instruct a formal exchange of contracts.
All purchasers should discuss with their solicitor the completion date who in turn will liaise with the other solicitors to agree it.
There is a telephone call between all of the solicitors in the chain to confirm a legal completion date satisfactory to each of their clients, exchange then takes place. At this stage, all parties are legally bound to complete the transaction on the date specified.
This is the final stage and the day that all parties in the chain move. Keys will only be released when the transferred funds have reached the sellers solicitors (this is invariably after 12 noon and can sometimes be late in the afternoon). As agents we often hold keys to the property prior to completion and we can only release these as soon as solicitors give us the go ahead.
If you are selling a property through ourselves, please bring a set of keys in to the office at exchange of contracts in readiness.