The Sales Process

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You will find that the most important part of sales progression is communication between the purchaser, the vendor and the solicitors, as well as other related parties such as property surveyors & mortgage brokers.

Statistically, One of the main reasons for sales "falling through" is due to poor communication and a lack of understanding of the sales process; that is why we have heavily invested in an online sale platform to keep all this information as visible as possible for our customers.

Instruction of Solicitor

You need to instruct your solicitor as your property is now on the market, It's helpful to have your solicitor instructed as it gives time to make sure all relevant paperwork is in order for conveying your sale.

Documents prior to contracts

Once you initially contact your solicitor there will be a few documents that they will require completed, its important to complete and return at your earliest convenience as this will be very important, as your solicitor will need this to produce draft contracts to send to the purchaser's solicitor.

Enquiries & Searches

Once your solicitor has drafted a contract and sent to the purchaser's solicitor, it will be reviewed and some amendments might be made, The searches that are then carried out are related to local authorities, Planning, Building control and environmental concerns etc.. all of which comes with fees although this should be detailed when you first receive your quote. be sure that the purchaser's solicitor has requested these searches as it may take a few weeks for them to come back.

Throughout this time, a lot of "toing and froing" in terms of enquiries and waiting on documents will occur. At this time a lull in communication can hurt the sale as it can cause progress to stall, so it is imperative that we deal with all lines of communication on both sides to make sure the process runs as smoothly as possible.

Contracts Exchange & Completion of sale

Plan ahead in terms of completion dates to work towards for exchange of contracts and completion. There are many factors, whether the buyer needs to be in the property by a certain date, maybe current tenants need to be served notice or the seller needs to move out of the property due to them possibly purchasing another property. Here are just some of the hurdles that can be met on completion so we would strongly advise to plan well ahead.

When the enquiries have all been ironed out by both solicitors, contracts will be issued to be signed by both vendor and purchaser. The purchaser's solicitor will then make arrangements for the transfer of deposit and funds to be drawn down from the mortgage provider, at times it takes a little longer for funds to be transferred so this will need to be taken into account. We would then always advise that the buyer visits the property before exchange of contracts to make sure everything is in order.

Congratulations!

Another job well done