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Selling Your House

Initially we must provide the solicitor acting for your buyer with a range of essential information about your home. This comprises of:-

(a) evidence that you own the property – the title deeds
(b) a Sellers Property Information Form
(c) a Fixtures and Fittings and Contents List
(d) the Contract setting out the terms of the sale

We need your help with this task. If you have the title deeds to your home you should forward these to us as soon as possible. If you have a mortgage over your property with a bank or building society the title deeds will be held by them. We will need to know the name of the Lender concerned and your mortgage account number as we must quote these to the Lender when requesting the deeds.

We will send you a Property Information Form and a Fixtures and Fittings and Contents List to complete and return. Once we have the title deeds and you have returned the Property Information Form and Fixtures and Fittings List to us we will forward these with the contract and copies of the title deeds for your property to your Buyers solicitors. You will now have to wait until the Buyer is ready to commit himself to the purchase. It is at this stage that together we will have to respond to any queries which the Buyer or their advisers may raise about your property.

Once your Buyer is ready a moving date must be agreed. This is called the Completion Date.

Contracts are then exchanged. At this point the Buyer will pay over part of the purchase price as a deposit. After this stage the contract is binding ie. the price and moving date is fixed and neither party can withdraw from the transaction without incurring substantial penalties.

On the Completion Date the Buyers Solicitor will send us the balance of the purchase money and in return we will send them the title deeds to the property.

We will also pay off any mortgage held over your property, settle any estate agents bill and our own fees. Any remaining money will be paid to you on the completion day unless you are using this to fund the simultaneous purchase of another property.

Buying Your Home

As soon as you have instructed us to assist you in buying your new home we will make contact with the Sellers solicitor. If the Seller has not employed an estate agent to sell the property it will help to speed the process along if you provide us with the name of the Solicitor acting for your Seller – otherwise we will obtain this information from the estate agent. We will ask the Sellers solicitor to provide us with the contract and Property Information Form a Fixtures and Fittings and Contents List and a copy of the Sellers title deeds. Where relevant we will also ask for any guarantees which relate to the property itself (eg. damp proofing, timber treatment or double glazing) or the appliances in the property (eg. the central heating). If the property you are buying has a leasehold title we will also ask for evidence that the ground rent is paid up to date and for details of any service charge made for the upkeep of any areas used by the Seller with owners of adjacent leasehold properties
eg. stairways, paths, gardens, lifts or car parks. In order that you have as much relevant information about the new property available before you enter into a binding contract to buy it we will also conduct searches with the local authority for the area where the new property is located, the Coal Authority (if it is a mining area) the drainage authority,an environmental search, a chancel repair search and a flood search (if you so desire).

The other matter which you will need to finalise is how you are to pay for the new property. If you are borrowing money from a bank or building society we will need a mortgage offer from your Lender.

Once we have all these documents and information we will go through them with you so that you are familiar with and understand their content. If the examination of the documents reveal problems then this is when we will raise them with the Sellers solicitor. Once all problems have been resolved then you can exchange contracts and pay over the deposit to the Sellers solicitors having agreed a Completion Date with your Seller. Once this has occurred the contract is binding and neither you or the Seller can withdraw from the transaction.

On the completion day we will pay over to the Sellers solicitors the balance of the purchase money having obtained this from you and/or your Lender. The Seller’s solicitor will send us the title deeds for the property and undertake to pay off any mortgage your Seller has obtained from a bank or building society.

Where relevant we must within 30 days pay any stamp duty land tax due to the Inland Revenue and thereafter register you as the new owner at the Land Registry.

Re-Mortgaging Your Home

To commence this process we will need your title deeds. If you have a mortgage on the property already we will need from you the name of each Lender and your mortgage account numbers. Once you have provided this information we will write to your present Lender and ask for the title deeds. At the same time we will also ask the Lender to provide a Redemption Statement.

We will also need to know the name of your new Lender and if you have approached a mortgage broker or your financial adviser to assist you in finding the most suitable new mortgage their details.

Your new Lender will require us to examine the title deeds for your property and carry out searches with the local council and other public bodies before we can draw down the new mortgage advance and send a certificate to your new Lender confirming that there are no problems with the title to your property
eg. all necessary rights of way are recorded in the title deeds and you have complied with any covenants which affect your property. Your new Lender will make you a mortgage offer. We will be provided with a copy of this offer and will be required to comply with any conditions attaching to the offer –
eg. confirming planning permission and building regulation approvals for any extensions/alterations you have already made or are about to make to your property have been obtained.

Once the search results are available and any conditions on your new mortgage offer satisfied we will contact you to agree the earliest possible completion date for your re-mortgage.

On the Completion Date we will receive the money from your new Lender and use this to pay off any existing mortgage you may have and pay to you the remaining balance.

Following this we will forward the relevant documents to the Land Registry to remove reference to any old mortgage registered against your property and register the new mortgage against it. Once the Land Registry has updated their records we will forward the new register entries on to your new Lender.