The Process of Selling a House
How long will it take to sell a house?
The time from you acceptance of the offer to the date you hand over the keys in depends on a number of factors. The average process takes between 10 and 12 weeks to sell a house but it can be quicker or slower depending on the number of parties in the chain and their circumstances: e.g. whether all parties have a mortgage approved in principle; the time taken for them to obtain information for local authorities or management companies.
The house selling process and how we help you
(Please note: the steps and order in which the following happen can vary in each purchase):
- We take your detailed instructions and advise according to your own circumstances
- We carry out the necessary identification checks
- We send you various questionnaires about the property and we collate all the information we expect the buyer to request
- Flats and leasehold houses – we obtain standard information from the Landlord or Management Company about the management; maintenance and additional costs. Obtaining this early in the transaction helps avoid delays later
- We obtain a redemption figure from your mortgage lender (if any) to work out the net proceeds expected
- We prepare the sale contract and send to the buyer’s conveyancer
- We deal with any enquiries raised by the buyer’s conveyancer; answering from our own knowledge where possible and liaising with you where we need your input
- Where necessary, we obtain further planning documentation or copies of deeds
- We communicate regularly with the buyer’s conveyancer to check on their progress and ensure both parties are working towards the same timescale
- We arrange signature of the documents
- We ensure the completion date (i.e. date when you hand over the keys and receive the sale price) is agreed
- We exchange contracts on your behalf: this is the stage at which the agreement becomes legally binding on both you and the seller
- We complete the sale
- We repay your mortgage lender and settle the estate agent’s bill
- We deduct our legal fees and transfer the balance to your account
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