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This will vary according to whether we prepared your Home Information Pack (or HIP) or not. If we didn't prepare the HIP for you then you'll need to know how we can see a copy of the HIP. If we have prepared the HIP then we'll have the necessary information ourselves. We will firstly need to get the information together for sending to the buyers solicitors. They'll need to know how to access the HIP themselves (this will contain a copy of the Title Deeds and the local authority and water searches, and the Property Information Questionnaire). In addition we'll need to draw up and send to them a Contract; a Property Information Form; and a Fixtures, Fittings and Contents Form. (and if it is leasehold an Additional Property Information Form)
The Property Information Form, and Fixtures, Fittings and Contents Form, are filled out by you, the seller (and don't confuse it with the Property Information Questionnaire!). They are questions about the property that you should be able to answer quite easily. However, if you are unsure about any of the questions then you should contact us.
We'd normally be able to instantly get a copy of the Title deeds from the Land Registry. In the unlikely event that we can't then if you have a mortgage, the Title deeds may be held by your bank or building society; if you don't have a mortgage then you should know where the deeds are kept. However we obtain a copy of the deeds we need to let the buyer's solicitors have a copy. This is to prove to them that you own the property, and to show them any rights of way or other conditions that exist.
Once we have the title deeds we can also prepare the Contract.
This sets out the main terms of what has been agreed - your names, the buyers' names, a description of the property and the price. You will now have to wait until the buyer is ready to proceed.
Once the buyer and the seller are ready, a Completion Date (the 'moving date') is agreed. We will then exchange contracts (this simply means swapping the contract signed by the seller for one signed by the buyers - together with a deposit provided by the buyers). After contracts are exchanged the contract is binding and neither party can withdraw without incurring massive expense.
On the day of completion we receive the balance of the sale price, in return for which we will hand over the title deeds to the property. We will use the money to repay the mortgage the seller had on the property and secondly to pay the costs of sale - the Estate Agent's account and our own fees. If there is money left over then this will be sent to you on the day of completion, unless you are using this money on an onward purchase.
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