Sales Progression can be a very stressful experience if you are not fully prepared, especially when it comes to the conveyancing part. Once the sale has been agreed, you will need to appoint a solicitor to carry out the legal procedures. It is very important that you appoint an experienced solicitor to help you through the sales process, it can make your life a lot easier and by using a familiar solicitor, maybe the same who you used to purchase the property, or asking the agent to recommend a solicitor who has experience dealing with the same development or area, can be a great advantage. Also bear in mind that paying that little extra in fees, can often make all the difference to the service you receive, so don’t always go for the cheapest option.
Once you have appointed your solicitor, being organised will help you save a lot of time and money. Have the correct, essential documents ready and in-hand, so your solicitor does not have to waste valuable time chasing third-parties for the documents
Shortly after agreeing the sale, you should receive various documents from your solicitor, including those confirming instructions, requesting IDs, and some forms regarding the property. It is important you complete these fully and return them promptly to your solicitor, so that drafts of contracts can be prepared and sent out to the buyer’s solicitor.
If you are selling a flat, it is always advisable to call your management company to inform them of your sale, and to order a management pack (Pre-sale) from them – this will not only put you one step ahead but will also have the majority of the information about the property on it, and will be invaluable for answering any enquires raised by the other side’s solicitors.
The buyer’s solicitor will conduct a series of searches, which amongst other things checks out areas such as potential flooding, future building plans, current planning issues, and any environmental concerns within the area. This can take a few weeks, and during this time solicitors will communicate with each other in raising and answering any queries. This is where being organised and having all the right documents can put you in a good position ready for exchange of contracts and ultimately completion.
Planning for exchange and completion in advance again will help speed up your sale. Finding out when the buyer needs to move into or takeover the property and serving any notice to tenants if needs be beforehand, can help to avoid any delays.
Once all enquires have been satisfied and the buyer’s solicitor has everything they need, contracts will be sent out to be signed by both parties. Arrangements will be made for the transfer of deposits and the balance of funds, if there is a mortgage involved, it can take a little longer to request funds.
Finally, an exchange date will be set, and a completion date agreed, these may be the same day or separate dates set for completion if you need time to move out your belongings, or are waiting for tenants to vacate.
Contact us if you would like to speak to our sales team about selling or buying a property in Manchester.
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