[Stage One | Instruction to Exchange | 4-10 weeks]
Step #1:
Instruct your solicitor.
Step #2:
Sign and return the letter along with proof of your identity and detail of your current mortgage (if applicable).
Step #3:
Send you:
Fill out these forms as best you can (your solicitor will help you) then send them back along with:
Step #4:
Obtain your:
On leasehold property they will also ask your management Co. for:Instruct your solicitor.
Step #5:
Step #6:
Compile a contract pack & send it to your buyer's conveyancing solicitor.
Step #7:
Answer questions from your buyer's conveyancing solicitor about the contract pack.
Chase for confirmation that your buyer's mortgage application has been approved.
Help your solicitor to answer these questions fully.
Step #8:
Negotiate a target completion date with all parties & have this written into the contract.
Step #9:
Receive acknowledgment from your buyer's solicitor that he & his client are happy & ready to proceed.
Step #10:
Step #11:
[Stage Two | Exchange to Completion | 1-28 days / or longer]
Step #1:
Confirm with your lender a settlement figure for the redemption of your current mortgage.
Step #2:
Step #3:
Receive from your buyer's mortgage lender (via the buyer's solicitor) full payment for the purchase of your home.
Send the title deeds & transfer deed to your buyer's solicitor.
Pay himself, your Estate Agent (if you use one) & the redemption settlement owed to your current mortgage lender.
Step #4:
Forward any money leftover from the sale to you.
(If you are simultaneously buying) Forward the money to your vendor's solicitor.
You collect the keys for your new home, move in & finish what's left of the champagne.
Step #5:
Registers you as owners of your new home at H.M. Land Registry.
Forward your new title deeds to you or your lender (if you purchased with a loan).