The Legal Process for Selling Property Online
Once you have you have accepted an offer on your property you will need to ensure that your finance is arranged for your onward purchase and instruct a solicitor to start the legal process.
Firstly you will need to instruct a solicitor or licensed conveyancer to undertake the legal work on your behalf.
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Finding out how much it will cost
Before making a choice as to who will do the conveyancing, you should find out the probable cost. It is important to contact more than one solicitor or licensed conveyancer as there is no set scale of fees for conveyancing. You should:
- check whether the figure quoted is a fixed fee or will vary if more work is required,
- check that the figure includes expenses and VAT and get a breakdown of these costs,
- find out what charges, if any, will be made if the sale falls through before contracts are exchanged.
Exchange of Contracts
When contracts have exchanged, and before completion, the buyer may wish to visit the house, for example, to measure up for carpets or to get an estimate for building work. However, you should not allow any work to be done by the buyers before completion. You should inform the utility companies and phone company that you are leaving and ask for final readings to be made of the meters on completion day. You should also inform the person at the council responsible for council tax. We have a full check list of things to do on our The Move guide. If the buyer is paying a deposit, this will be paid to your solicitor at exchange of contracts. The solicitor will hold this deposit until completion.
We will contact your buyer to arrange key collection as soon as we have confirmation from the solicitor that they have received the funds. The property is now legally owned by your purchaser.