Now you have sold, it’s homework time…

Last time I wrote about the importance of getting yourself ready for the sale process both with the estate agents and also with your paperwork about your property. This time I will look a little closer at the more specific things we will want our clients to assist us with.

Legal work is quite correctly heavily regulated for our clients’ protection and we have many regulatory obligations to them. It may seem to some that we send out an inordinate amount of information for clients to read and complete, including an engagement letter, terms of business, privacy information, identification guides as well as more specific forms and documents for the legal process you are about to embark on. We do our best to minimise the ‘red tape’ for you but it really cannot be avoided.

Once we have these forms completed we need to check your identity to make sure you are who you say you are, that you own the property you are selling, and we need to have information about the origin of your funds for any related purchase if it is over and above the sale price and as a result we are often seen to ask many intrusive and personal questions. This is of course an important part of the process and helps ensure that we look after you in the very best way.

We will send you a number of property-specific forms for your sale… including the property information form and fittings and contents form. These documents form part of the legal contract pack that we will send to the buyer’s solicitors. Whilst time isn’t always of the essence it is useful to complete these as quickly as possible, although you may need to gather more information to answer them fully.

Hopefully all of this ‘paperwork’ (I like to think of it as homework for the home seller) is to be expected and therefore it is important that you work through the paperwork we send you carefully and return it to us as soon as you can. However do remember you are not alone in the process so if you get stuck, or confused, please ask us for help.

We will then prepare the contract and accompanying pack with additional documentation being sourced from the Land Registry where needed and we will make contact with your mortgage lender if you have one.

Once the contract pack has been dispatched to the buyer’s solicitors the first phase is complete… but there is little time to rest as phase two of dealing with enquiries will soon begin, more on that next time.

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