Our property law team in both Newcastle offices can advise and guide you throughout the process of selling your residential property. We can do so under the accreditation by the Law Society’s Conveyancing Quality Scheme (CQS) to ensure a high standard of conveyancing throughout our work and department.
We appreciate that selling property can be stressful and our team aims to make the transaction smooth and simple by offering a service tailored to you.
Please read below for further information on what to expect from a property sale.
Before the transaction
We will take instructions from you by phone, email or in person to obtain:
- Names and addresses
- Details of the property being sold
- Estate agent contact details (if applicable)
- The buyer’s details
- Details of your mortgage lender
- Any other documentation for the property as necessary.
During the transaction
Once we have the above information, we will send you a client care letter with our terms of business and client questionnaire, which requests further information as well as a payment on account and how we can carry out ID checks to comply with Anti-Money Laundering Regulations.
Once we are in receipt of that, we will open the file and obtain the title documents from the Land Registry to prepare draft contracts and forward supporting documentation to the buyer’s solicitors. We await any additional enquiries that the buyer feels must be raised relating to the draft contract documentation and searches.
The property may be unregistered – in which case we will prepare an Epitome of Title, being the ownership history of your property.
If your property is leasehold, we must obtain management pack information from your landlord or managing company. The appropriate apportionments will be made while making sure service charges are paid to date.
If your property if mortgaged, we will obtain a redemption figure to confirm the amount needing to be repaid on the day we complete the sale. This will be incorporated into your completion statement and thereafter we will discuss potential dates for exchange (legal commitment) and completion (moving date).
We will then arrange for the contract and transfer to be signed.
On the day of completion, we will receive the sale proceeds, pay the mortgage redemption (if applicable) and estate agent fees (if applicable) and forward the remaining amount by CHAPS or BACS payment to your account. We will deal with any lease obligations and apportionments if the property is leasehold. Your keys will be handed over to the buyers and you will vacate your property.
After the transaction
As there is no title to register, we will ensure all funds are paid to your account and all documentation is sent to the buyer’s solicitor. We will then close your file and keep it in storage for 6 years.
If you have a property to sell, our partnered estate agent Charles Ross Estate Agents offers a free valuation and competitive pricing.