Sales Steps

Receive instructions and send initial documents	Instructions are received from you and a letter will be sent to you introducing ourselves and how the transaction will be dealt with, the documents should be read carefully.
Apply for title deeds and redemption	Your title deeds will be requested from your existing lenders' if any so that the draft contracts for the sale of the property can be prepared. A redemption statement is applied for to confirm the amount outstanding on any existing mortgage.
Receive documents from seller	When your instructions were received an initial document bundle would have been sent to you. Some of these documents should be signed and sent back to us.
Receive title deeds and draft contracts to buyer solicitors	Once the title deeds are received we will then prepare the draft contract documentation which will be submitted to the buyer's solicitors for approval.
Draft contract approved by buyer solicitors	Having received the draft contract and supporting documentation the buyer’s solicitors will confirm that the draft contract is approved and will return one copy to us in readiness for exchange of contracts.
Contract signed by seller	After draft contract is approved it will be submitted to you to sign in readiness for exchange of contracts.
Set completion date	Once contracts are approved and have been signed by both parties, a completion date will be agreed as the moving date.
Obtain redemption statement	This will confirm the amount outstanding on your existing mortgage as at the completion date.
Contracts exchanged	When the agreed form of contract has been signed by both the seller and buyer and has been returned to their respective solicitors and a moving date has been agreed the contracts will be exchanged by the parties solicitors creating a binding agreement. If the purchase is linked to a sale, an exchange of contracts will take place on both matters simultaneously. Your building insurance should be placed on risk at this stage.
Redemption statement	On receipt of details of the estate agents account we will prepare a financial statement confirming the amount of monies either required from you or to be paid to you on completion.
Transfer approved and sent for signature	Prior to the completion date the buyers solicitors will prepare a draft transfer and send the same to us for approval. If the transfer is approved this will be submitted for you to sign.
Completion	This is the date the legal ownership of the property is transferred to the buyer and the balance sale monies can be released to you or used in connection with any related purchase transaction.
File achieved	Your file relating to the transaction will be archived for future reference.

For more information please email property@newhamptonlaw.com