How many times have you sold a property and the solicitors just don’t want to speak to you?
You’ve no idea what’s going on and the stress of waiting for a phone call can be unbearable.
It can be so easy to do your own conveyancing to sell a property in the UK. Selling is easier than buying in terms of the paperwork involved and the whole thing can be done a bit more quickly than using a solicitor.
Remember that you can only do your own conveyancing if there is no mortgage on the property you want to sell and that you are the, or one of the registered owners.
There are three general areas to the process and these can be each, a few weeks long. They are referred to as ‘Pre Contract’, ‘Between Exchange of Contract and Completion’ and ‘After Completion’.
If you decide to go ahead, you will be given the details of the buyer’s solicitor if you are selling a property, usually by the estate agent in the form of a ‘memorandum of sale’.
Initially, as a seller, you will need to provide 4 documents to the buyer’s solicitor. The first is to show legal ownership of your property with an Office Copy Entry, that you get from the land registry for about?16. Second is two copies of a Contact, (which is of a standard form available on the internet), next a ‘Seller’s Property Information Form’ also available for free on the internet and finally a ‘Fixtures and Fittings list’. This is something that you can make up yourself showing what is included in the house sale.
The majority of the time will be spent amending tiny bits of the latter three forms listed above. So there will be several exchanges of information between you and the buyer’s solicitor. To minimise this, it is imperative that you supply accurate and full details up front.
Later on, you will need to generate a ‘Completion Statement’, showing when and how much is to be paid for the property in total including any variations for part paid expenses such as utility bills or yearly subscriptions.
On Completion, you must hand over all documents and title deeds and decide the arrangements for completion, such as where to collect keys etc.
You could save yourself a small fortune doing your own conveyancing, but more importantly, you save time and have more control over what is going on and you don’t feel so much in the dark!