The process of selling a property is one that can be exhilarating and stressful at the same time. Many legalities are involved with the process and this is why professional conveyancing solicitors are so helpful. In selling your home, Harper Macleod conveyancing solicitors focus on making sure the legalities of the process are well handled to avoid any hitches hence the need to leave the entire process to us. Starting with the receipt of offers to the drafting of contracts, a conveyancing solicitor becomes involved as a crucial factor towards the sale of a property. It is now important to look at the major steps involved in the selling of a property and how these experts assist you at different times.

Valuation and Pre-Sale Preparation

It is important to get an accurate valuation of your home before you put it on the market. Whereby estate agents are involved in the physical sale, conveyancing solicitors are involved in ensuring that your property’s title is legally sound. They will study all the documents and highlight all the problems that may hinder the sale process. Such preparatory work might encompass checking on the planning permissions and the building regulations. It is important to be proactive at this stage so as to avoid future complications.

Receiving Offers and Negotiating Terms

After you have listed your home, there will be interested buyers who will make their offers known to you. A conveyancing solicitor is a very important person during the negotiations. Not only will they help you reconsider the offers but they will also assist you in understanding the legal side of each of them. While you may be concerned with the monetary side, your solicitor makes sure that the contractual provisions are beneficial to you. This phase may involve exchange of messages between both the parties’ legal representatives in a bid to arrive at the best deal.

Drafting and Reviewing Contracts

Once the buyer and the seller agree on a particular offer, the solicitor proceeds with the drafting of legal documents. The preparation of the sale contract requires a lot of keenness since every clause needs to be effectively written. The conveyancing solicitor will draft the contract and the terms to be included will be the agreed price, the boundaries of the property, fixtures and fittings, and the date of completion. In addition, it will be the role of the solicitor to point out any other conditions that need to be fit into the deal, including those relating to repairs or inspections.

Conducting Title Searches

It is the duty of the solicitor to check on the title of your property before you sign a contract that will finalize the deal. This includes a search to verify for problems such as encumbrances which may include a mortgage, lien or a boundary question. In the event of any issues arising, the solicitor will ensure that he or she sorts them out and this may involve bargaining with the buyer’s lawyer. Title searches ensure the property is legally acceptable for sale as well as there will be no other claims in the future.

Responding to Enquiries

In the course of conveyancing, the buyers may ask other questions about the property such as history of the property, any existing litigation. Such enquiries have to be replied to correctly and within the shortest time possible. Your conveyancing solicitor will help you in preparing answers and make sure that all legal queries are well answered. Anything less than that may set the entire sale back, which is why it’s important to have professionals here.

Exchanging Contracts

When all the parties are content with the terms of sale, then contracts are swapped. At this stage the sale becomes legal where the ownership of the item being sold is transferred from the seller to the buyer. The buyer is expected to make a deposit to ensure that he/she will not back out of the transaction and both parties are not allowed to pull out of the deal without incurring a loss. Your conveyancing solicitor will manage this exchange, to guarantee that all the relevant documents are signed and dated appropriately. It is an important step in the process of selling a property and special attention should be paid to it not to make a mistake.

Preparing for Completion Day

Once the contracts are signed, the next milestone for both parties is the closing date, which is the legal transfer of the property to the buyer. Before completion your solicitor will endeavour to complete any outstanding legal formalities such as making sure that the mortgage on the property has been redeemed and that the title deeds are ready for transfer. On completion day the buyer’s conveyancing solicitor will send the balance of the sale price and your conveyancing solicitor will facilitate the exchange of monies to ensure all monetary issues are finalized.

Finalizing the Sale

Once the money has been received, the conveyancing solicitor organizes the legal transfer of the property. At this stage the buyer moves into the property and the solicitor completes all the paperwork for the transfer deed and any other outstanding contracts. Any other monies which are due as for example Stamp Duty Land Tax are also paid by the solicitor at this stage.

Post-Sale Obligations

Sometimes, even after the sale has been effected, a conveyancing solicitor may have more work to do. They may help in the payment of the remaining balance, for instance the estate agents’ commission or assist in any legal matters that may come up once the buyer has occupied the house. Their role only comes to a close when every legal process has been addressed to the letter.

Final Thoughts 

The process of selling a property entails taking some legal procedures which may seem complicated if one is not assisted. It is therefore important that conveyancing solicitors like the one at Harper Macleod effectively help in making the process a smooth one. They offer legal consultation, manage legal matters and make sure that all legal paperwork is done rightly. By hiring their services, you will be in a position to avoid common pitfalls in property deals hence making the sale a success.