If you are selling a property, it’s a good idea to understand the various stages involved to reach completion. Whether you’ve done it before or this is your first time, it can be a daunting process. To help, here is our handy summary of what happens during the conveyancing process when you are selling a property.

The conveyancing team at HRJ Foreman Laws Solicitors are here to help and take you through each stage. Our firm holds the Lexcel accreditation, the Law Society’s quality mark for excellence. We are regulated by the Solicitors Regulation Authority and we operate to the highest standards of practice and integrity required by the Law Society’s Conveyancing Quality Scheme (CQS)

A step by step guide to the conveyancing process when selling a property

1. You’ve accepted an offer for your property

2. You instruct us to help you. We’ll ask you for 2 items of ID and to complete the Law Society Protocol forms which are a set of enquiries relating to the property.

3. We’ll issue the contract and related documents to the buyer’s conveyancer

4. When the buyer’s conveyancer has reviewed the documents, they’ll raise enquiries with us and order their searches.

5. When the buyer’s conveyancer is happy with the replies to enquiries and is in receipt of search results and mortgage offer and is able to exchange contracts, we will send you the sale contract for signature.

6. Once you have signed the contract we will proceed to exchange of contracts and agree a fixed date for completion with the buyer’s conveyancer.

7. On exchange the buyer will also pay a deposit which is usually 10% of the purchase price.

8. Following exchange, we will prepare you a completion statement confirming the net sale proceeds available on completion. This will include the amount required to repay your mortgage and paying the estate agents’ commission which we will deal with on the completion date.

9. We will arrange for you to sign the transfer deed in good time before the completion date.

10. On the completion date we will receive the sale proceeds and advise the estate agent to release the keys.

11. We will arrange for the mortgage money to be redeemed and settle the estate agents’ commission on your behalf.

12. We will send the transfer deed and any other original documentation to the buyer’s conveyancer.

13. We will transfer the net sale proceeds to you on the completion date.

The time taken to complete the process will be dependent on your situation. If you are in a property chain, there will be several buyers and sellers, all dependent on the other. We will be working with your buyers solicitors in the chain to co-ordinate the process. However, we won’t have contact with all the other parties in the chain; so open communication in a chain will help things to move more quickly. Let us know about key dates that will impact your completion, for example, rental notice periods, holidays or personal circumstances. Prepare for a minimum 8-12-week process to allow for; surveys to be completed, finances to be confirmed, documents checked and any hiccups ironed out before completion.

For an instant online quotation, without obligation visit https://www.hrjforemanlaws.co.uk/legal-services/conveyancing

For professional legal advice to buy or sell your home, email info@hrjforemanlaws.co.uk or call Hitchin 01462 458711, Welwyn Garden City 01707 887701.

Read ‘What is the legal process for buying a house‘ here:

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