Our Wimbledon conveyancing solicitors are expert in conducting the conveyancing for the sale of both houses and flats in Wimbledon and the South of
London.
We will always strive to provide you with an expert service and to make sure you are informed about the progress of your sale right up to completion.
Call
us or email us to discuss your sale and for an instant quote. We can provide advice even before the property goes on the market.
If you haven't sold property for a while or this is the first time you might find this brief summary of
the process informative:
A
Summary of the Conveyancing Sale Process.
1. When
the seller and the buyer agree the terms of the sale both usually immediately instruct solicitors to carry out the conveyancing for them.
2. The
conveyancing solicitors usually receive a Sales Memorandum
from the selling agent and both write to their clients to confirm the
terms of the sale. The sellers' solicitor
collects some money from the seller and holds this on account in case any documents or information needs to be paid for.
3. The
contract papers are sent to the buyer’s solicitor.
4. The
buyer’s solicitor reviews the contract papers and the HIP, and asks
questions about them. This is known as raising additional enquiries. The
searches are also carried out at this time.
5. The buyer may have the property surveyed and sorts out the mortgage (if applicable) and arranges the exchange
deposit (either 5% or 10% of the sale price).
6. When
the seller has answered the buyer’s solicitor’s questions, the search
results received, and the mortgage and deposit is in place, the buyer’s
solicitor reports to the buyer about the property.
8. When the buyer is ready to proceed, and a completion date agreed, the contracts
are “exchanged”. This is when a binding contract is formed. The deposit
is paid to the seller’s solicitor, who holds it on account on behalf of both the buyer and the seller pending
completion.
9.
The buyer and seller and their solicitors prepare
for completion. For the seller this involves signing the necessary documents and arranging the mechanics of vacating the property and notifying service providers of the sale. It is important that all the meters are read on completion. Arrangements should be made for the forwarding of post etc as appropriate.
10.
Provided everything is in order on the day of completion, the buyer’s
solicitor pays the balance of the purchase price to the seller’s
solicitor and when this is received formal “completion” takes place. The seller vacates the property and gives the keys to the buyer. The
property now belongs to the buyer.
11.
Following completion your conveyancing solicitor usually deals with any financial matters such as paying the selling agent, if instructed to do so, redeeming any borrowing secured against the property, and of course, paying the balance of the sale proceeds to you, or using those proceeds to simultaneously purchase your new house or flat.
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