A conveyancing solicitor will assist the property seller with completing the necessary documents and stages in the selling process and ensure they meet all their legal obligations. Firstly, a solicitor will check the title deeds to the property to prove that there are no issues affecting the owner’s right to sell. The solicitor will then help the seller complete the mandatory property information forms, and prepare a draft contract for sale. The draft contract and a copy of the title deeds will then be sent to the prospective buyer’s solicitors, and any queries can then be addressed.
Once the buyer confirms they are ready to proceed with the transaction, contracts will be signed by both parties and ‘exchanged’ between their respective solicitors, at which point the agreement becomes legally binding. The buyer will then pay a deposit (normally 10%) and a date will be set for completion, by which time the seller will have vacated the property. On the day of completion, the seller’s solicitor will receive the balance due, and the keys to the property will be handed over to the buyer. The seller will then receive the proceeds of the sale from their conveyancing solicitor.
Another important role a conveyancing solicitor plays is in ensuring that the seller’s financial liabilities relating to the property are met, especially concerning any outstanding sums owed on a mortgage or other loans secured on the property. A solicitor can request a redemption statement from a mortgage provider, and settle the seller’s account with the lender before the completion date. They can also make sure that any other financial obligations (e.g. estate agent’s fees) are settled by that date.
Our firm has years of experience helping property sellers in the city of Liverpool and across Merseyside. All conveyancing work is supervised by Louise Nelson who is a conveyancing solicitor in Liverpool with over 40 years’ experience. Louise and her team can provide you with a no obligation immediate quotation based on our transparent fixed fee structure:
https://www.bartletts.co.uk/our-services/residential-conveyancing/fixed-prices-for-our-residential-conveyancing-services/
