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Particulars of the sale. The solicitor will first draft a basic
agreement covering the particulars of the sale.
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Title deeds. The seller's Conveyancer obtains the seller's title
deed and prepares the draft Contract for the buyer's Conveyancer to approve.
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Property information. At this stage the buyer’s solicitor will
usually send a number of forms to the seller’s solicitor in order to get specific
details on the fixtures and fittings as well as information on land ownership and
work carried out on the property. The solicitor may request copies of recent council
tax statements and utility bills to show to the buyer.
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Contract drafted. The solicitor may draft a preliminary contract
quite early on. This will set out the particulars of the sale and any deposit required
at the point the contracts are exchanged. This is likely to change a number of times
before it is finalised as both sides agree upon the most amicable terms.
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Exchange
of contracts. Once both sides have agreed upon the terms of the contract the exchange will take place where both the seller and the buyer will sign the contract. At this point the sale becomes legally binding and neither
party will be able to back down without serious repercussions.
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Final payment made. The buyer’s solicitor will now transfer the remaining balance for the property electronically to your bank account.
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Transfer of deeds. The deeds will now be transferred and the home
is no longer yours.
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Click here to perform a market comparison of low cost conveyancing services >>
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Most solicitors charge a fixed fee of anywhere in the range of £300 - £800 although
some solicitors charge a percentage of the sale value, usually 1%. There are also
a number of online conveyancing packages available now that can
offer a very competitive price, however make sure the solicitor you deal with is
licensed to carry out conveyancing work, you can check if a solicitor is licensed
here (Council for Licensed Conveyancers).
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