Putting your house on the market is the first step in moving towards a new phase of your life. It is important to maximise the value that you receive, and this requires careful preparation and attention to detail during the negotiations. At Hancock Quins, we make the selling process simple and tailor our service to your needs. Here are the five key stages of selling your home.
Once you have decided to sell your home and have instructed Hancock Quins to act for you on the sale, we will need to ascertain from you whether your property is registered with the Land Registry. If it isn’t we will need the title deeds from you or your lender. If it is registered, we will apply for Office Copy Entries from the Land Registry.
We will then draw up the contract which sets out the terms of the sale, including the price and the relevant parties involved. This is then sent to the buyer’s solicitor for their approval. We also send them a copy of the title deeds or Land Registry records to prove that you own the property and that the information given in the contract is correct.
Hancock Quins will send you a questionnaire relating to the property and a list setting out details of the fixtures, fittings and contents included in the sale. It is important that these forms are completed fully and as accurately as possible as any incorrect information could lead to the buyer claiming compensation for misrepresentation.
The buyer’s solicitor may raise some additional enquiries, which we may need to refer to you if we require further information.
At this stage we will ask you to sign the contract in readiness for exchange. You will not be committing yourself to the sale at this stage.
Once your buyer’s Solicitors are ready and a completion date has been agreed, we will then exchange contracts with the buyer’s Solicitor. It is at this point that you will be committed to the sale and the terms of the contract cannot be changed. If either party tries to cancel or delay the agreed arrangements after contracts are exchanged, then the other party will have the right to sue for damages.
Preparing for completion
After exchange of contracts, the buyer’s solicitor will forward the transfer to us. This is the document that formally passes ownership of the property from the seller to the buyer.
This must be signed prior to completion. Hancock Quins will also obtain a redemption figure from your lender, if any, in order that we can pay off your mortgage on the day of completion. Please pay any direct debit payments due for your mortgage up to completion.
On the day of completion, you should aim to vacate the property by noon. You should deliver the keys to your estate agent, who will then hold them until Hancock Quins confirm that the purchase monies have been received and that the buyers now own the property. We will then account to you for the net proceeds of sale or forward the money on to your seller’s solicitor if you are also buying another property.