conveyancing procedure ?
March 28th, 2010 by admin
In England, if selling property to prospective buyer and also buying another property at same time, what confirmation/ correspondence is expected from all parties/ estate agents/ solicitors, and in what order?.
Shell, your answer was most enlightening. NOT.
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your agent will write to confirm the offer made for your home
Then 1) letter from agent agreeing price and conditions + homebuyers pack to be arranged.
2) you instruct Solicitor and fill in their forms + of terms of sale
3) pay sol deposit for search fees etc;
4) apply for mortgage via broker / bank / building soc. Get survey done on property
5) if all well exchange contracts via sol with buyer. Fix completion date
6) complete the purchase and move in the same day.
Speak to agent to confirm all is well on a daily basis or ask for update on progress by letter or phone call as and when any changes occur.
Of sales that fall through most happen around exchange date.
The same applies to buying a property and you will need to contact the sol on a weekly basis so they do not put you to the bottom of the pile.