Property Boutique
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Sunday, October 20th 2019 Property Boutique > The Selling Process

The Selling Process

Valuation

To request a free valuation of your property you can either:

Processing the property

Once confirmation of your instruction has been received, we shall beging processing your property. From just one visit, they will be able to take the time and effort to present your property in the best possible light and place it in the appropriate media quickly, professionally and efficiently.

Legal

A solicitor will be required to handle the legal paperwork involved in transferring ownership of your property to the new buyer (conveyance). It is advisable to instruct your solicitor at the same time as putting your property on the market, to allow for collection of the necessary documentation.

On the market

When you instruct us to sell your property you automatically benefit from colour property details. These are designed to achieve maximum exposure for your property in order to obtain the best price quickly and efficiently.

Viewings

Receiving an offer

As soon as an offer is received we will notify you both verbally and in writing.

Agreeing to sell

Once a price has been agreed by you it is important that the following details are agreed:

  • Date for exchange of contracts
  • Date for completion
  • Details of any extras included or excluded from the purchase

We will advise you and negotiate on your behalf throughout this process, keeping you informed every step of the way

Drafting contract and supporting paperwork

Once the transaction is agreed, your solicitor will send out a draft contract to the purchaser's solicitor who in turn carries out preliminary enquiries and orders a Land Registry search. They will also organise all the supporting paperwork (where applicable) ie: title deeds, copy of Lease, fixtures and fittings list, seller's questionnaire, planning consent, guarantees, copy of building regulations and share of freehold certificate.

Service charge accounts & building insurance

We recommend that you forward copies of your service charge accounts over the last three years, estimates for the forthcoming year, and building insurance certificates, to your solicitor the moment you instruct us to market your property. In general Service Charge is not applicable to Freehold properties.

Alternatively, in the case of apartment blocks, you can ask your solicitor to collect these documents from the Managing Agent.

Contract approval

This occurs when all preliminary enquiries from the draft contract and local search queries have been settled.

Exchange of contracts

Most buyers require mortgages. Once the mortgage offer has been confirmed, the purchaser is ready to exchange contracts with the seller. The contract is signed by buyer and seller and the deposit, (usually 10% of the purchase price), is either telegraphically transferred or paid in the form of a bankers draft by the buyer's solicitor. The completion date is set at this stage.

Completion

This is generally set a few days to a few weeks after exchange of contracts, depending on the personal requirements of the buyer and seller. The residual monies (usually 90%) are transferred from the buyer's solicitor to your solicitor's account.

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