The process of selling a property can appear a complicated process but with years of experience of helping both buyers and sellers we can do much to make the process more straightforward.
The Conveyancing Process
Before a seller can even put their house on the market an Energy Performance Certificate (EPC), has to be prepared at the seller’s expense before the estate agent can even start work.
At Veitch Penny we believe that if we are contacted right at the outset when you are thinking of putting the house on the market we can spot any possible pit falls at an early stage and try and resolve them so that they do not cause delays later in the process. It is then over to the estate agent to try and find you a buyer.
Once a buyer has been found and your estate agents have negotiated the best price for you we then take over the process. We prepare the sale Contract and pass it on to the buyers solicitors, go over all the paperwork that they need to make an early decision whether or not to buy your house. We will help answer any enquiries that they raise and we will ask you to complete questionnaires about what you are taking and leaving from your property and dealing with any alterations or improvements you may have made to the house.
Exchange of Contracts
Providing everything is agreed we will then ask you to sign a Contract. Once your buyer is satisfied with all the information and has his mortgage arranged and deposit available we should then be able to exchange Contracts. ‘Exchanging Contracts’ literally means that we hand over the Contract that you have signed and in exchange we receive the Contract signed by the buyers together with their solicitor’s cheque for the deposit. When we exchange Contracts we agree the date for completion. Once Contracts have been exchanged neither party can pull out of the deal without serious legal consequences.
Completion takes place on a date that has been agreed between you and the buyers when we exchange Contracts. Normally it is about a fortnight after the date of exchange but it can be earlier or later if the parties agree. On the day of completion you move out of the house (normally by midday) by the same agreed time your buyers have to get the money electronically transferred in to our bank and at that point we complete the transaction and hand over the title deeds and the keys. At the same time we pay off the exact amount to clear your mortgage on that date.