Call +44(0)161 941 4000
Call +44(0)161 941 4000
You’ve secured your property sale but what can you do to move things along as quickly as possible afterwards? With a little preparation, sellers can aid the swiftness of their sale by helping their property solicitor provide the information the buyer will need.
If you are thinking of putting your property on the market soon, here is a useful guide to how you can help smooth the process towards exchange and completion once you accept an offer.
At the start of your sale process you’ll be asked to fill out some forms (a Property Information Form and a Fittings and Contents form); provide as much detail as you can in the forms, and return them promptly to your solicitor. Your buyer’s solicitor will inevitably have lots of questions to ask about your property before exchange. Once your solicitor sends you these questions, respond as promptly, accurately and thoroughly as you can. If you simply do not know the answer, say so, as this will help keep your sale on course in the long run.
Be open with your solicitor from the outset if there are issues about the property which you suspect are likely to come up in the buyer’s investigation. This way, you can be prepared at an early stage to consider potential solutions to issues – for example, the possibility of indemnity insurance if there is a missing Building Regulations completion certificate.
If you own a leasehold property you’ll be asked to provide a Management Pack from the freeholder or their agent for your buyers’ solicitor to review. Provide your solicitor with details of the managing agent or landlord early on so this important pack can be ordered as soon as possible, as it often takes weeks to receive and can cause delays otherwise.
Gather together all the information you have on any works or servicing you have had done to the property such as planning permissions, Building Regulations certificates, guarantees, warranties and boiler/electrical service records etc. The buyer’s solicitor will definitely want to see these documents so it’s best to hand them to your solicitor at the start of the sale process so copies can be forwarded promptly.
Try to resist the temptation to book removals until you are completely certain of your completion date – remember that up to the point of exchange of contracts, this date is still negotiable and can often change at the last minute. Be guided by your solicitor to avoid needing to cancel removals bookings and potentially delay matters.
Flexibility is a vital part of the sale process - especially if your sale forms part of a larger chain. Although it’s fine to set a desired timescale for completion sometimes unexpected and unforeseen issues can crop up which mean originally planned dates may need to slip. Although it’s impossible to foresee all the stumbling blocks at the start which may cause delays, by following the suggestions above you can do all you can to ensure your sale reaches completion as soon as possible.