Preparing the legal side of the sale of your property prior to having an offer accepted could save you a lot of time and stress.
If you ask a solicitor this question, the answer will be anywhere between 8 to 12 weeks. It may come as a surprise but solicitors count the time from when the contract pack is sent to the buyer’s solicitor and not when you agree the sale. As a result of this there could be anywhere from 1 to 4 weeks that goes by before a contract pack is sent. When you consider these two together it can actually take anywhere from 9 to 16 weeks from accepting the offer to completion (when you hand over the keys).
Firstly you need to find a solicitor! After you have instructed a solicitor your file needs to be opened, meaning you will need to fill in forms and provide identification to your solicitor. You will then need to complete the forms about the property (protocol forms). You may also need to locate the deeds and certificates for work that has been done to the property.
Ordinarily the solicitor is the last person you would instruct, but why? The sooner you instruct a solicitor the sooner the contract pack can be prepared and potential legal issues addressed. We would suggest instructing a solicitor as soon as you have decided to sell your property and this can be done even before you have marketed the property. It makes no sense to wait patiently for a buyer, accept an offer and then spend the next 1 to 4 weeks running around frantically looking for papers and filling in forms.
At Lupton Fawcett LLP we offer a service called Quickstep. Fill in a short form and we will open your file. Your identification can be verified using an app so you do not need to come in to the office! Once we have opened your file we will send you all of the forms necessary so that we can prepare the contract pack. These forms can be completed electronically and returned to us by e-mail. We will draft the contract information so that when you accept the offer and the buyer has instructed a solicitor, the contract information can be sent to the buyer’s solicitor immediately and without delay.
We will send you a short report highlighting to you the issues (if any) we envisage that we may encounter and how to deal with these, so that if these issues are identified by the buyer’s solicitor they can be dealt with immediately and without delay.
We can even obtain quotations for indemnity policies that may be needed and prepare you a draft financial statement so that you can better budget for your future costs.
There are no additional costs for this service and you will still pay our normal conveyancing fees. If you do not sell your property within 9 months of instruction we will charge £150 plus VAT, however you get to keep all the information that we have already sent to you.
Please call Sarah Sargent in Sheffield on 0114 228 3281 or Richard Baum in Leeds on 0113 280 2061 or Jaime Dodd in York on 01904 561425 to discuss how we can help.
Please note this information is provided by way of example and may not be complete and is certainly not intended to constitute legal advice. You should take bespoke advice for your circumstances.