Smart Steps to Sell Your House – Part II
There are two first steps should go when you are selling your properties. Since you deal with Home Information Pack (HIP), your real estate transaction would be performed on the right and fair way which the seller and the buyer both should be accepted what is fairness. Though making real estate transaction can be done by yourself, but to hold this big job, you need to sure you know well about the right process as well as the way to protect yourself from any fraud may be raised by your parties. As both of parties, the seller and the buyer, each are need to get the most benefit when dealing with transaction, so, each one prefer to have the solicitors to achieve the complex task instead as having a professional always better and can make sure everything will go on fairness.
After knowing what will be happened before the contract has been exchanged, there are the other steps would be occur in the next.
3. Exchange of Contracts
Once the form of the sale contract has been agreed between solicitors – the seller’s solicitors and the buyer’s solicitors, your legal advisor will ask you to sign your copy of the contract. After you have signed your contract, it does not mean you have sold your house. The agreement is only binding once the contracts have been exchanged.
Immediately prior to exchange the completion date need to permit by all parties in the chain and between exchange and completion, there is no period. Completion can even be managed a year in advance if appropriate and it may be possible to agree both an exchange and completion date in simultaneously too. However, this date depends upon the availability to physically move out of their existing house and into their new home of all parties involved the chain. After exchange of contracts has been effect, as the seller, you are in a legally binding contract to sell your house.
4. Completion Preparing
To empty your house, you will need to arrange a removal firm, and you will also need to inform the relevant utility and other companies that you are moving. To be paid off your mortgage and settle your estate agents commission account (if applicable), these will be arranged by your solicitor. In addition, your solicitor would be asked you to sign one final document that is called the Transfer Deed. This document will be used by the buyer’s solicitors to register their client interested in the property at HM Land Registry following completion. Without first having received the full balance of the sale proceeds, your solicitor will not release this document.
5. Date of Completion
After the purchase funds have been received from the Buyer’s solicitors, the sale have been completed. Everything from the house must be removed, except any fixtures and fittings or other items that you have agreed to sell to the buyers which are already included in the sale price.
The house’s keys can be leaved with your estate agent, otherwise there is other way have agreed with the buyer. Once this has been done you have successfully sold your house.
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