Once we have received an offer from a prospective buyer, we collate as much relevant information as possible to help you make an informed decision.
We will report to you a breakdown of the buyer's ability to proceed, their financial position and any other relevant information.
Once you have accepted an offer Glenn Flegg & Company will prepare a memorandum of sales, writing to all parties confirming the agreed price and collect your solicitor's information.
Your solicitor will send out a contract to the buyer's solicitor who will conduct preliminary enquiries. At this stage, you can negotiate the dates for a survey on your property, exchanging the contracts and a proposed completion date.
Despite the legal work now required can only be carried out by the solicitors, Glenn Flegg & Company is committed to ensuring the sale runs as smoothly as possible, Hense, we will be in regular contact with both parties and their respective solicitors.
We will keep you informed each step of the way and can advise you and negotiate on your behalf throughout the process.
There are no legal obligations until the contracts are signed.
The exchange of contracts occur once the following have taken place; preliminary enquiries have been conducted, evidence of title provided, lease issues highlighted (where applicable), local search queries completed and confirmation of fixtures and fittings included in the sale.
Once the contract has been signed by both parties the deposit (usually 10% of the purchase price) will be paid by the buyer's solicitor to your solicitor. The completion date will then be set by mutual agreement.
Completion is negotiable and must be agreed by both parties at the point of exchange.
On the date of completion, the keys are handed over once the monies have been received by the respective solicitor.
The balance of monies (usually 90%) is transferred from the buyer's solicitor to your solicitor's account. Your solicitor will notify you when the money has cleared in your account and will then inform us to release the keys.
Legal Work and Solicitors
Selling a home can be a complicated and time consuming business and therefore it is sensible to find a solicitor to handle the legal side of the sale at the same time as you instruct an Estate Agent.
Your solicitors will arrange for the Deeds of your home to be deposited with them as soon as possible. Once a purchaser is found, your solicitor will then prepare a draft contract and forward this to your purchaser's solicitors for their approval. It is the purchaser's solicitor's job to make sure they make the relevant enquiries and carry out a series of searches to be certain that their client gets no nasty surprises later. Once they are happy with the answers to their searches and enquiries and when they have confirmation that funding is available for their client, they will then liaise with your solicitor to agree dates for exchange of contracts and completion.
Selecting the correct solicitor to act for you can have as much effect as selecting the correct Estate Agent. Get it wrong and you could be making an expensive mistake.
If you would like us to recommend a solicitor, our staff will be more than happy to give you the names of local solicitors whom we believe offered a good service to our clients in the past.