ID Checks

The first thing your solicitor will ask for is proof of ID. This is necessary to satisfy regulatory and anti-money laundering requirements.

Property information forms

Next we will send you several forms to be completed –Property Information Form (TA6) and Fittings and Contents Form (TA10). These forms enable you to provide your buyer with detailed information about your property. If your property is leasehold, you will also be asked to complete the Leasehold Information Form (TA7).

Certificates and guarantees

When you return your property information forms, you should also supply copies of any documents mentioned in the forms, for example, warranties or building regulations certificates. Providing information at the outset, reduces the number of enquiries received from the seller’s solicitor.

Mortgage redemption

You should obtain and supply mortgage redemption figures from your current lender. This statement sets out the outstanding balance on your property which will be paid off on completion of the sale. We will check this information and advise whether there are any redemption charges or penalties. We request a statement at the outset for information and a further statement when the completion date is agreed to make sure the correct amount is repaid on the day your sale completes.

Contract

We will use all of the information provided to draw up a draft contract for the sale of your property, which will be sent to your buyer for their approval.

Surveys and searches

Your buyer will usually arrange for surveys and searches to be carried out, including safety checks on gas and electrical installations. This may lead to them raising issues, asking questions or renegotiating if significant work is required.

Exchange of contracts

Once all issues have been resolved and questions answered, the contract will be signed, a completion date set and a deposit paid by the buyer.

Completion

Completion takes place once contracts have been exchanged. This is when we receive the purchase monies from your buyer’s solicitor. There can sometimes be a gap between exchange and completion. On completion day we will send the transfer deed and title deeds to your buyer’s solicitor, send sufficient funds to your lender to repay your mortgage, pay your estate agent and legal fees from the proceeds, authorise the release of the keys and send the sale proceeds to your nominated bank account on the same day. We will then send you a completion statement.

Typically, the whole process takes 10-12 weeks.