Conveyancing Langport

1. Instructing a Conveyancer: Once you have secured a Buyer, you will need to instruct a conveyancer so that you can move to the next step immediately.  Once you have done so, 

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2. Confirmation of Instructions: You will receive a bundle of initial documents, including a letter confirming the instructions to you (usually referred to as a Client Care Letter), along with the terms of business, a Fittings and Contents Form (TA10 Form), a Property Information Form (TA6 Form)  and a Leasehold Information Form (TA7 form) (if applicable) and a Client Questionnaire for completion and return. Please note that all the documents should be completed fully and all the replies must be accurate. 

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3. Documentation and Forms: Upon receipt of the completed documents from you along with a valid ID and a recent proof of address evidence (e.g. a bank account statement or a utility bill less than three months old), the Identity Checks will be conducted. 

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4. Title Deeds and Documents: Upon receipt of money on account (requested at the outset), the title documentation will be obtained from HM Land Registry as well as the redemption figures on any existing mortgage/loan.

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5. Contract Pack: The draft contract will be prepared and sent to the Buyer's Conveyancer along with supporting documentation.  

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6. Pre-Contract Enquiries: The Buyer's Conveyancer will review the documents and raise enquiries and provide a draft Transfer Deed for approval. 

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7. Replies to the Pre-Contract Enquiries: The enquiries will be reviewed  and you will be asked to provide replies to the enquiries that I am unable to address on your behalf that are specific to the property. If the Contract requires any amendments, an amended contract will also be sent to the Buyer's Conveyancer along with confirmation of the approval of the Transfer Deed and replies to the enquiries.​

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8. Signing documents: You will be invited to sign the documents and return the signed documents prior to exchange.  ​

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9. Update on the replies to the Pre-Contract Enquiries: The Buyer's Conveyancer confirms the replies are satisfactory, they have received acceptable search results and receipt of a mortgage offer (if applicable). If there are any outstanding enquiries or some further enquires have been raised based on the conveyancing search results, such enquiries will also be addressed at this stage and prior to exchange of contracts, in any event. 

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10. Preparation of a completion statement: You will be provided with a draft completion statement setting out the financial side of the transaction. The statement will include the legal fees, disbursements, a mortgage redemption figure, disbursements, etc. 

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11. Exchange of Contracts: Subject to the Buyer's Conveyancer confirming that all the replies are satisfactory and all the signed documents are to hand, exchange and completion dates can be agreed. Contracts then will be formally exchanged, which means that both You and the Buyer will be legally committed to the transaction. 

 

12. Completion and Key Release: On completion day, You will be required to vacate the property (unless the Property is being sold with a Tenant in situ), arrange key handover (usually via the Estate Agent). Once completion has taken place (i.e. completion monies have been received),completion will be confirmed to you (usually over the telephone), the Estate Agents will be authorised to release the keys. The Estate Agent's  fees/invoice (if applicable) will also be settled, any outstanding mortgage will be redeemed and the legal fees and disbursements will be deducted from the net sale proceeds. Once all payments are made, the net proceeds will be transferred to You by CHAPS or BACS (as per your prior instructions) on the completion day.