The Sales Process.

Selling a property can seem like a long and complicated process – but it doesn’t have to be! To complement our guide to conveyancing, we’ve summarised all the different steps in the sales process to help you understand how it works.

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What are the stages of a house sale?

Anyone selling their property will need to enlist the services of a specialist conveyancing solicitor to handle the legal aspect of the transaction. There are a number of stages to this process. 

You instruct your conveyancing solicitor of choice.

If on board, the conveyancer will accept the case within 24 hours. They will then send you a pack of information to fill in and return to them. They cannot begin their work until this is done. 

ID requirements satisfied.

Your conveyancer will request ID to confirm your identification. Once they are satisfied it fulfils requirements they can move on to the next stage. 

Conveyancer sends information.

Next, your solicitor will send you some documents to fill in. This will include a property information form and a fixtures and fitting form. For the property information form, you will need to provide details of boundaries, alterations, guarantees and warranties, among other things. The fixture and fittings form will require you to detail exactly what is included in the sale price and if any other items like furniture or appliances may be available to the buyer for an extra cost. 

Contract issued.

The conveyancer will draw up a legal contract to transfer the ownership of the property in question to your buyer. Once complete, they will send this to the buyer’s conveyancer for them to review. 

Contract returned.

The buyer’s conveyancer will return the contract either fully approved or with some queries about the property. To avoid delays, it’s important to respond to these as quickly as possible. Your conveyancer will respond to the buyer with any additional information you have provided. This can sometimes lead to further enquiries. 

Contract signed.

Once both parties are happy, they will agree on a completion date and formally exchange signed versions of the contracts. This is the point in the sales process where you are legally committed to complete. 

Completion.

The final stage! On completion day, you must fully move out of the property. The proceeds of the sale will be received by your conveyancer and they will then arrange for the keys to be handed over. This is usually done through an estate agent. Proceeds received, your conveyancer will send the title deeds and transfer deed to the buyer’s conveyancer. If an estate agent was used, this is the point your conveyancer pays them, repays the existing mortgage lender (if applicable), and finally takes their fee. 

Emma Jones

Emma began her career in Lloyds Banking Group, first in the unsecured loans department at HSBC and later as a mortgage advisor at Lloyds. During 9 years in these roles and a further 2 years at Yorkshire Building Society, Emma was able to observe the impact of the recession, and how the the banks let their customers down by denying loans and mortgages.

Wanting to be a driving force for change, she stepped into a market advice role where she has been able to help clients when others couldn’t. Identifying a gap in the mortgage space, Emma went on to establish When the Bank Says No. As a keen property investor, she has been the focus of features in publications including The Sunday Times and This is Money.

Emma’s greatest joy is overcoming the low expectations of their customers, many of whom have all but given up on getting a mortgage due. Emma and her team’s passion for helping people overcome the challenges they may face when applying for a mortgage have fuelled the success of When the Bank Says No.

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