Selling Your Home
Selling your property can be for a variety of reasons so instructing a firm with experience, knowledge and compassion to understand your needs is a significant decision. You could be selling your family home to move to a bigger property, selling the property of a beloved family member who is no longer with us or maybe selling due to a breakdown of a relationship, all need an expert conveyancer. Tollers are a firm you can trust.
You should instruct Tollers to act as soon as you place your property on the market to ensure that we can start work on your sale even before you have sold your property.
Such preparation includes:
- Tollers sending you an instruction pack.
- Opening your file and dealing with our identification formalities.
- Obtaining a copy of the title to your property.
- Obtaining a redemption figure from your existing mortgage lender.
Carrying out these steps before you have sold the property means that, once you have agreed a sale, Tollers are able to issue contracts to your buyer’s nominated Conveyancer without delay.
Once you have agreed a sale and the team have been advised we will contact you estate agents for the sales memorandum. This is the document will confirm the agreed price and which law firm is representing the buyers. We will then issue a draft contract to the Buyer’s Solicitors.
The Buyer’s Solicitors will review the contract and raise enquiries with us. We will review the enquiries and deal with the enquiries we are able to answer ourselves and we will forward to you any enquiries which require your involvement. You can assist us when we are dealing with enquiries by answering the enquiries promptly and provide us with as much information as possible and any paperwork which you may hold to assist in order that we can reply to the enquiries as comprehensively as possible. This may prevent further enquiries being raised.
The sale contract will be sent to you for signing. The contract also needs to be signed by any adult occupiers that live in the property but who are not legal owners. The second document that requires your signature is the transfer. This is prepared by the Buyer’s Solicitors and we will approve it on your behalf. We will also send this to you for signing. Your signatures on the transfer need to be witnessed by someone that is independent and not related to you (a neighbour or friend).
Once the Buyer’s Solicitors are in receipt of satisfactory replies to enquiries, the search results, their client’s mortgage offer, source of deposit from the Buyer and they are holding signed papers from the Buyer, they will be in a position to exchange and will propose a completion date.
Exchange of Contracts
Exchange of contracts is the process when the contract becomes legally binding and the completion date is set. Financial penalties will be incurred by the defaulting party if either party wishes to withdraw from the sale once contracts have been exchanged. Before contracts have been exchanged the sale is not legally binding and we would not advise you to commit yourself to securing rental accommodation or booked removals or storage until exchange had taken place.
Completion is the final part of the process when you vacate the property and the Buyer’s solicitors transmit the purchase monies over. Once Tollers have received the sale proceeds we will redeem any mortgage that you have on the property, pay the estate agents, settle our bill and account to you with the balance of the sale proceeds.
On the completion date you need to vacate the property by midday and once we have received the Buyer’s completion money we will advise you and telephone the estate agents to release the keys to the property to the Buyers.
We will keep you updated throughout the process and a member of Tollers Conveyancing team will be on hand for any queries that may arise during the transaction.
Talk to Tollers
Tollers Solicitors provide practical, stress-free solutions for your property transaction. For all your property selling needs contact our specialist conveyancing lawyers.