Read our blog for advice on the selling conveyancing process - what happens and what the solicitor needs from you.
A guide to the conveyancing process - selling
After instructing a solicitor, you will receive their welcome pack through the post with various forms and documentation that you need to fill out and return. Your solicitor will prepare a draft contract and send this to the buyer’s solicitor. The buyer’s solicitor will then raise enquiries (ie ask questions about) the property. Your solicitor will be able to answer most of these from the information you would have already sent in but they may come back to you for clarification on some points.
When all of the enquiries have been answered and your solicitor is satisfied that the sale can proceed, they will ask you to sign a contract. You can either do this in their office or remotely in front of a witness. At this point, you will also be able to request the actual day that you want to move, to be agreed with the buyer. Once your solicitor has received this from you and after a final call to you to make sure you are happy to proceed, your solicitor can then “exchange contracts” (this takes place over the telephone with the buyer’s solicitor) with an agreed completion date. The sale is then legal and binding to both buyer and seller.
On the day of “completion” (the day you actually move - often 2 weeks or so after exchange) the buyer’s solicitor will send all of the money to your solicitor. All fees will be taken out at this point and you will be sent the balance. If you are buying also, this money will be passed up the chain.
With thanks to The Property Law Group: www.thepropertylawgroup.co.uk/conveyancing