Selling a Property
For most of us, selling a house is the biggest transaction we will be involved in and for this reason you need a trusted solicitor with your interests at heart. We are one of the few firms in England and Wales to be granted a Conveyancing Quality Scheme Accreditation by the Law Society.
“The Conveyancing Quality Scheme provides a recognized quality standard for residential conveyancing practices.”
The Law Society
Our service and commitment
Our conveyancing service is designed with the client in mind. We have experienced solicitors specialising in conveyancing work. With the rapid expansion of Aberystwyth as the centre of Ceredigion, we have acted for the main developers in the area and for hundreds of individuals so whether you are selling an older property or a new one, we are ideally suited to act on your behalf. We will take care of all the organisational and administrative work to ensure that you become the legal owner as smoothly as possible.
We guarantee to keep you informed at every stage of the transaction and we are always at hand to answer your queries by telephone and by email.
Our commitment is to offer you a quality service at a reasonable cost. We offer a free first interview in which we will explain the steps involved in the conveyancing transaction and its cost. We can provide estimates by telephone, email and post. To obtain details, please contact us.
Sale of Freehold Residential
How long will my sale take?
How long it will take from your acceptance of your buyer’s offer until your sale is completed will depend on a number of factors. For example, you may need to purchase another property which must be coincided with your sale, or your buyer may also selling their property in order to buy yours.
The average process takes between 6 – 10 weeks. It can be quicker or slower, depending on the parties in the chain. For example, if you are a selling to a first time buyer with a mortgage in principle, it could take 6 weeks. However, if you are selling a leasehold property that requires an extension of the lease, this can take significantly longer, between 2 – 3 months. In such a situation, additional charges would apply.
Stages of the process
The precise stages involved in the sale of a residential property vary according to the circumstances. These are some of the key stages:
- Consider the deeds for your property (if unregistered) or your Land Registry entries and the documents referred to therein (if registered).
- Arrange for you to complete property information forms giving detailed information about your property and check your replies.
- Prepare the terms of the contract.
- Send the documentation to your buyer’s solicitors.
- Consider and discuss with you any enquiries about the property which are raised by your buyer’s solicitors.
- When everyone is ready, and the same moving date has been agreed, exchange contracts. This is the stage at which you are committed to the move.
- Make the pre-completion legal arrangements and checks.
- Receive the purchase money from your sale.
- Pay off your mortgage.
- Sending any surplus to you.
Sale of Leasehold Residential
When selling a leasehold property, there are some additional stages because of the involvement of a freeholder and/or a management company. Information packs usually have to be obtained from them which provide details about the running of the building or complex; service charge accounts and any significant works which are proposed in the near future. Freeholders and management companies make a charge for the provision of this information which tends to range from between £150.00 to £450.00. This information needs to be obtained at an early stage in order to be supplied to your buyer at around the time that the other documents are sent to your buyer’s lawyer.