Selling a Property

Once a price is agreed, the seller should pass their solicitor’s details to the agent. The agent will then issue Particulars of Sale or Memorandum of Sale which gives details of the property, the price and the other party and their solicitors. This is sent to all parties and their respective solicitors.

The seller should confirm their instructions to their solicitors, who will then set up a file, send out the terms of engagement and other documentation to the seller, additionally requesting that monies on account are paid to them by the seller.

Once the seller’s solicitor receives confirmation of instructions, they will then submit a Sellers Property Information, Sellers Leasehold Information (if the property being sold is leasehold) and Fixtures & Fittings Forms for completion. The seller should supply as much information about their property, particularly about payments of ground rent, service charges and insurance in respect of any leasehold property.

Once the seller’s solicitor receives copies of the Title Register from the Land Registry and they have received confirmation of instruction from the buyer’s solicitor, the seller’s solicitor will submit a draft contract and supporting documentation to the buyer’s solicitor.

On any leasehold transaction, the seller’s solicitor will also at that time, write to the Freeholder or Managing Agents to obtain receipts for last payments of ground rent and service charges and for a copy of the up to date insurance policy. If the property is leasehold, a Pre-Sale Leasehold pack will be required to send with the papers and the cost of the pack is to be paid by the seller. The pack will provide details of the management of the block, maintenance of the block, ground rent and history of the service charges and provide audited accounts for the last 3 years including the current year and anticipated costs.

The seller’s solicitor will deal with any enquiries or additional enquiries raised by the buyer’s solicitor upon receipt by them of our draft contract.

Having dealt with any additional enquiries and having sent through ground rent, service charge and insurance details, exchange of contracts should be achievable. Once the contract is returned approved by the buyer’s solicitor, it is sent to the seller for signature. Upon its return, exchange of contracts can take place.

At exchange of contracts, a completion date is agreed and if there is a mortgage on the property, the solicitors will request an up to date statement of account from the lender.