Once we have found you a buyer, we go through a stage called conveyancing. This is the process that will ultimately lead from the offer you have had to you moving (known as completion). We work with local and trusted solicitors that will offer you a dedicated service, and work with us to help guide you through the process while keeping control of the costs, using fixed-fee rates.
We can instruct the solicitors on your behalf, as well as helping you understand and fill out the necessary paperwork. Your dedicated advisor at Lannister Homes can help answer any and all questions you may have, as well as providing you with the communication you need for a calm experience.
To help you understand the process, here is a helpful guide explaining the order of what will happen. Don’t worry if this sounds confusing, your dedicated advisor here at Lannister Homes will be in regular contact with your solicitor to ensure the process is progressing smoothly and will be in regular contact with you to ensure you understand what is happening at every stage.
A Guide to the Conveyancing Process
- Initial instructions from you (start)
You will be asked by your solicitor to complete initial paperwork, provide them with your form of identity and request you send them the funds for any office copy entries. Don’t worry if this is confusing, as we are here to help you. Within the initial paperwork, there will be some protocol forms : these ask you detailed questions about the house you are selling. So if you have any paperwork, certificates or warrantees for the house then have these ready.
- Contact with your mortgage lender
Your solicitor will apply for your current title deeds to the property from your mortgage lender and request a statement showing how much is left to repay.
- Obtain documents from the Land Registry
Copies of the up to date electronic deeds, also known as official copies, will then be obtained by your solicitor from the Land Registry.
- Preparation of draft contract
Your solicitor will prepare a draft contract for the sale of your house will then send them to the buyer’s solicitors along with the official copies, protocol forms and all copies of all relevant documents.
- Enquiries raised by the buyer’s solicitor
The buyer’s solicitor will then need some time to carry out any searches requested by the buyer and review the paperwork they have received from your solicitor. They will likely have questions about the property or paperwork which they will get contact your solicitor to ask. Your solicitor then may need to refer to you so that they can answer those questions.
- Agree on a completion date
Once the buyer’s solicitor is happy with the responses to enquiries a date can be arranged for signing the paperwork and completion, which is agreed by all parties involved with the transaction. After this, the buyer will transfer the deposit (usually 10%) to their solicitor, which is the cue for your solicitor to prepare for the exchange of contracts.
- Exchange of contracts
When the exchange of contacts happens the transaction and completion date becomes legally binding. The deposit will then be transferred to your solicitor by the buyer’s solicitor and then your solicitor will request a final redemption statement from your lender.
- Conveyancing process for selling a house (finish)
The conveyancing process is complete on ‘moving day’ and when your solicitor receives the full balance of the sale price from the buyer’s solicitor. You are required to leave the keys with us, and we will only release them to the buyer when the funds have been received. Your existing mortgage will be repaid and all fees from the sale proceeds will be settled; the remaining balance will then be sent to you.