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The Conveyancing Process For Sellers Made Easy

conveyancing liverpoolConveyancing is the complex process of transferring the ownership of your home legally. The process starts with an offer and ends with handing over the precious keys to your former home. If your are thinking of selling your home getting your head around this process now could save you from losing out on countless hours of sleep in future

Who does the process?

A solicitor or conveyancer usually does the conveyancing. If you are struggling on deciding which one to go with take a look at our article: How to find the right solicitor or conveyancer

Get an estate agent and agree upon a sale price, get an evaluation, negotiate and accept an offer. Sounds easy! Obviously it isn’t but this is the process at the very start of conveyancing and is only really the catalyst to begin the conveyancing process.

Now it’s time to find the right conveyancer or conveyancing solicitor. If you are Liverpool based we can suggest a conveyancing solicitor that has been helping their happy clients since 1821. This process would be best to do around the same time as choosing the estate agent you would like to go with. However only instruct them to start work after the sale has been agreed.

At this point your conveyancing solicitor or conveyancer will fill in some questionnaires with you. These questionnaires are really detailed and at it’s here that it really pays to have a conveyancing solicitor or conveyancer with a lot of experience on your side.

  • The 1st of these is the TA6 which is a general questionnaire that includes the likes of boundaries, disputes and complaints (boundaries, noise etc).
  • If you don’t own a freehold then this is the point where you would fill in a TA7 for a leasehold or a TA9 form for a commonhold.
  • Fittings and fixture can be very important to a property and the TA 10 is the form that will explicitly allow you to note which fixture you do and don’t want to include in the property sale.
  • The final form you will have to fill out is the TA 13 this is a very technical form and includes the finalisation details such as the arrangements for handing over keys. It also includes details ensuring the house is free of all mortgages and liabilities.
  • It’s very important that you fill out these forms truthfully and to the best of your knowledge any details that turn out to be non-factual could lead to you being sued for compensation in the future.

From here your conveyancer or conveyancing solicitor draws up a contract, which is then sent to the buyer for approval. However the fun doesn’t stop here negotiations over the contract takes place and can include changes to details such as fixtures, valuation (buyer can ask a surveyor to further evaluate the property). This process can take as little as 7 days but can go on as long as 28 days. During this worrying process it is important to have a conveyancing company or solicitor that will take the extra care to keep you updated on the progress of this process.

Now it’s time to make the contract exchange! But the work isn’t over yet. A buyer and yourself would have an agreed date for exchange. The exchange takes place between solicitors or conveyancers to ensure that both contracts are identical. If the buyer is in a chain then contracts will only be released if everyone in the chain is happy to go ahead. This can sometimes lead to long delays.

Once the contracts have been exchanged they then become legally binding to sell the property and if the buyer does not purchase the property then can take legal action against them and can also keep the deposit. As a seller at this point you can no longer accept an offer or pull out of the sale (with certain acceptations, speak to one of our helpful conveyancing solicitors if you have an enquiry of this nature).

After the exchange you will receive the deposit, which is often 10% of the property price. However you still own the house until the completion and don’t strictly have to move out until the completion date. With a house move being so stressful we recommend that you give yourself enough time to move beforehand and don’t leave this moving until last minute.

Completion is made when the buyer receives the keys from the estate agent. All other spare keys will be left in the house. At this point you or your conveyancing solicitor/conveyancer will receive the remaining part of the property balance and will have to clear any outstanding mortgages on the property.

For more information on conveyancing services, conveyancing solicitors or conveyancing enquiries please take a look at our conveyancing page.

 

 

This entry was posted in Conveyancing, Conveyancing Liverpool, Conveyancing Runcorn, Liverpool Law, Liverpool Solicitors and tagged , . Bookmark the permalink.

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