The conveyancing of a property is clearly a process of two halves, one person is selling and one person is buying. In many cases, the individual will be both buying and selling, as they are part of a chain and are effectively moving house. However, the purpose of this article is to look at the conveyancing process from the seller’s point of view.
Stages of Selling a Home – Preparatory Steps
As a seller, you are required to provide certain information about your property, the Energy Performance Certificate in compliance with EU regulations and the Property Information Form TA6. The buyer will need to undertake the searches themselves which of course has a risk associated with it, particularly if the sale then does not go forward. The seller remains under a duty to be accurate and not to misrepresent in any way.
Instructing a Solicitor or Conveyancer
Once you’ve received and accepted an offer, it is necessary to choose your professional solicitor or licensed conveyancer who will undertake the conveyancing process for you, which is the legal transfer of the property and land. They will then liaise with your buyer to produce the necessary documents and to answer questions about the property. Answering the required information in detail will not only ensure that the process proceeds as quickly as possible, but also that you do not open yourself up to any claims in the future.
It is the role of the seller, through their nominated professional, to provide the contract to the purchaser who will then make any enquiries that they wish. The quicker you are able to send the contract through to the other side, the better, as they will then be able to begin their searches and enquiries, something which can take a considerable period of time in some local authorities.
This time-frame may be particularly important when it comes to a chain of sales and purchases, as the seller needs to be thinking not only of the sale process, but also about the time-frame of their corresponding purchase.
Further Stages in Selling your Home
Once you’ve answered all the questions and the purchaser is satisfied that they are ready to proceed, you will be required to exchange and complete, with the time between these two phases depending on the needs of the parties involved. When you’re looking to sell your own home, it is likely that you’ll need a period of time between exchange and completion, in order to deal with the practical issues, such as booking removals.
Always remember to deal with post-completion formalities, such as notifying utilities, so as to avoid a nasty surprise in the future. Be guided by your professional and make sure that you remain open and prompt in attending to any questions asked of you. The onus is on YOU as the seller to provide honest information and any failures could result in a claim being made against you.