1 Home
1 Sales search
1 Lettings search
1 Buying
1 Selling
rs
rs
rs
rs
rs
rs
rs
rs
rs
rs
1 Renting
1 New Homes
1 Mortgages
1 Conveyancing
1 More
1 Contact Us

NAEA

Conveyancing - Selling

Selling Guides
Selling Guides

Exchange of contracts
Your solicitor will ask the buyer's solicitor to return the signed contract and request any deposit. At the same time they will find out how much you owe on your current mortgage. You will then be asked to sign the transfer document and then contracts are exchanged. This means that both you and the buyer are bound legally and may not be able to back out of the sale/purchase without financial penalty.

Completion & beyond
You and the buyer will have agreed a date to complete the purchase and on that date the balance of the monies are exchanged. Your solicitor will deduct any money you owe to them from the balance.

The solicitor's work is still not finished as he or she will now need to pay off any mortgage on the property, pay the estate agent, hand over the deeds to the buyer's solicitor and send you the balance of the monies.

<<< Back



Terms of use | Privacy Policy | Copyright 2006 Lanes Property Agents Limited | Site by The Property Jungle