Selling Property

Selling Property (Residential)

Frequently asked questions

Q.1      I have put my property on the market – do I need to contact you before a buyer is found for the property?

Yes.  If we know that you are trying to sell your property we can take all the details from you and more importantly check that the title is in order and, if necessary, sort out any problems with the title or other lack of documentation before you have found a buyer.  This will ensure that when a buyer has been found the sale can proceed as quickly as possible.

Q.2      How much will your fees be and what else will I have to pay when selling my property?

We will provide you with a written breakdown of anticipated fees at the outset.  We will only charge you more than the estimated fees if there are unforeseen or unusual difficulties or “extras”.    If your sale falls through we do reserve the right to make a charge for the work we have done.   The charge will depend upon how much work has been done but we do try to be accommodating in our charges particularly where a sale does finally go ahead to another buyer.

Q.3      How long will it take?

There is no simple answer to this question.  Most property sales involve a chain of sales and purchases and some or all of the people involved in the chain may require finance from a mortgage company.   The whole process can therefore, take several weeks to complete.

However, as a very general guide once every link in the chain has been made and solicitors instructed by all parties in the chain then, unless there are any unusual snags, completion of the sale should take place within six to eight weeks.

Q.4      Would it help if I try and agree a time limit for exchange of contracts and completion at the outset?

This is not a good idea without first speaking to us.    Before we can give a realistic estimate of how long the transaction might take, we need to know from all the solicitors in the chain the circumstances of each party.   This information is not usually available at the outset.    Agreeing a date prematurely can unnecessarily put all parties under undue pressure in a transaction which is generally recognised as stressful.   Unless you do have a crucial deadline to meet try not to put yourself under added pressure to meet a date which may turn out not to be achievable.

Q.5      What happens after I have found a buyer for my property and we have agreed a price?

The estate agents will send us the details and we will start the conveyancing process.   We will send to the buyer’s solicitor, the contract and other supporting documents, including a form listing the items which you are including or excluding from the property, together with another form completed by you giving some general information about the property.

The buyer’s solicitor will carry out searches and will probably ask some questions which we may well need to be referred to you.

Q.6      If I change my mind or I cannot go ahead is it too late to stop the sale?

Not until there is a binding written contract between you and the buyer.  Until then either of you may pull out of the transaction.  A binding contract is only created when, on your behalf, we exchange a contract signed by you, for a contract signed by the buyer.  On exchange the buyer pays over a deposit of up to 10% of the purchase price.

Q.7      When do we agree a date for moving?

Prior to exchange a completion date will be agreed between you and the buyers through both parties’ solicitors.    You must then vacate the property on or before the agreed completion date.

Q.8      What do I do with the keys on the completion date?

Usually the keys are left with the estate agent who is selling the property.   When we have received the balance of the sale money from the buyer’s solicitor we will contact the estate agent and authorise them to release the keys to the buyer.

Q.9     How will I be kept informed of what is happening?

Both we, and the estate agents, will keep you fully informed as to what is happening as the matter proceeds.   Please let us know of anything which occurs which we should know about, for example, if there are re-negotiations on the price following an adverse survey report. Do not hesitate to contact us if you have a question or something to tell us.

As noted above we appreciate selling a property can be a stressful experience. Since the buyer’s solicitor will be undertaking searches and enquiries on your property there may be periods of a week or more when we have nothing to report. Rest assured we will contact you as soon as there is anything important to tell you.

Q.10    As well as selling a property I am buying another.   They are dependent upon one another.    Will you be able to tie them in together?

Yes. This is the most common situation and we will ensure that the sale and purchase are co-ordinated so that you complete your sale and your purchase on the same day if that is your wish. If you are moving a long distance however, it may mean that you will move into your new property the day after you move out of the property you are selling.

Please refer to Buying Property