A Vendor’s Guide to the Sales Progression

by Karen Antoniou

June 2015

Selling

The real work begins as soon as the sale is agreed upon!

The sale process begins with conveyancing. This is very time consuming and complex, so you will need to employ either a solicitor or a licensed conveyancer to do it for you.

 

Here are our top tips on choosing and using a conveyancer:

  1. Get at least three conveyancer quotes. Ask friends, family and your estate agent for recommendations.
  2. Tell your conveyancer if you want answers to any specific questions in advance.
  3. Let them know when you would like to exchange contracts and complete. Tell them you will require regular updates about how the sale is progressing.
  4. Try to negotiate a no-sale, no-fee deal to prevent you from having to pay if the deal falls through.
  5. Check and compare quotes carefully.

 

Once you have appointed a conveyancer, you will need to:

  • Give them some basic information to get started such as your mortgage roll number so they can check that you own the property, and proof of ID.
  • Complete a detailed questionnaire on the property covering aspects like who owns the boundaries and whether you have had any disputes with neighbours. It is a legal requirement to answer truthfully.
  • Complete a form showing what fixtures and fittings are included in the sale.
  • Answer conveyancing queries as soon as you can and be sure to either use registered post or deliver the documents by hand.

 

Exchange of Contracts

The next step of the sale process is the Exchange of Contracts. In England and Wales, this is the last stage of the legal process after which a buyer cannot pull out (without losing their deposit).

A date for completion is usually set for at least two weeks after the exchange date, giving you time to arrange removals. Your conveyancer will call your agent to tell them when the buyer’s money has arrived so they can give the keys to the new owner.

Check the conveyancer’s completion statement carefully; it should reflect the original quotation.

Petermans, sold house

 

Here are some tips to make the day you move out as painless as possible:

  • Ask your friends to recommend a professional removal firm. Your belongings are precious so ask for references. Look for removers who are members of the British Association of Removers and get removal quotes from Rightmove.
  • Think about moving out and in on separate days so you don’t have to squeeze everything into the same day.
  • Leaving a few days before moving in will also give you some time to get essential work on your new home completed, without needing to work around piles of boxes. This is a great time for carpet cleaning, decorating, or any DIY projects that might be dusty like sanding woodwork, laying floorboards, replastering, etc.
  • If you can, avoid moving on a Monday or Friday as these are the busiest days for moving as well as the worst for traffic.
  • Remember to take meter readings on both properties on the day(s) of the move.
  • Set up your post to be redirected a few weeks before you move with Royal Mail; a good precaution against identity theft.
  • While you still have connection to the internet (it could be a few weeks before your new property is connected), download any instruction manuals from the manufacturer’s website for your new appliances.
  • Prepare a note for the new owners explaining how things work and where they can find useful items such as the boiler switches, aerial sockets and alarm codes. A few kind thoughts will go a long way when it comes to mail redirection but it’s also just nice to inject some humanity into the process.

 

If you’re interested in selling in Edgware, Herne Hill, or West Dulwich, have a browse of our relevant pages. If you would like to know more detail or ask a question about the sale process, do not hesitate to get in contact with us.

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